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Reuters - Run on deposits gives Myanmar's fledgling banks a fright

Created: 22 Oct 2012

Publication: Reuters
Title: Run on deposits gives Myanmar's fledgling banks a fright
Date: 10 October 2012
Author: Aung Hla Tun and Martin Petty
Excerpt: "Jared Bissinger, an expert on Myanmar's economy at Australia's Macquarie University, said that after years without reliable information or an independent media, rumors carried great weight in Myanmar, exacerbated this time by a "persistent lack of public trust" in the banking sector.

"The banks are better regulated and more well-capitalized now than they were 10 years ago... but this will re-emphasize to everyone the importance of doing your homework about potential business partners in Myanmar," he said. "It's absolutely a reminder that Myanmar still has a long way to go." "

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