SCB Signs an MOU with Myanmar Bank’s Ayeyarwady for Cross Border Transfer
SCB has signed a MOU with Ayeyarwady Bank in Myanmar to collaborate in the development of Cross Border Payments and Fund Transfer.
The representative of the Siam Commercial Bank Public Company Limited (SCB) and Ayeyarwady Bank (AYA Bank), the second largest bank in Myanmar, have signed a memorandum of understanding (MOU) to collaborate in the development of Cross Border Payments and Fund Transfer, to support the banking activities of Thai and Myanmar SMEs and minor customers.
The main objective of collaboration includes the study on direct transaction between Thai currency, baht and Myanmar currency, kyat. And to promote the banking activities channel of the bordering SMEs and minor customers through the formal channel for more safe and convenient.
SCB has been serving on financial services for Thai and Myanmar customers since 2012 via Siam Commercial Bank PCL., Yangon Representative Office by encouraging on direct investment and international trade through its Myanmar local partner bank.