Monday, December 17, 2012

Indian bank opens representative office in Burma

Monday, 17 December 2012 15:02 Mizzima News

United Bank of India (UBI) has opened a representative office in Rangoon, the first time an Indian bank has ventured into Burma.

In an announcement, UBI said it was launching in Burma to help improve mutual trade between the two nations.

A representative office is usually the first step for an international bank before its opens a branch office.

UBI’s representative office will not handle any financial transactions, but will liaise with the Burmese government, banks and traders, it said in a statement.

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