Efforts should be made to provide modern banking services to the public, Deputy Prime Minister Union Minister for Planning and Finance U Win Shein said at the coordinating meeting on the year-end closing for the 2024-2025 fiscal year of the Myanmar Economic Bank held on February 17.
Efforts should be made to provide the public with banking knowledge and modern banking services so that the public who interact with the bank can become familiar with the bank and participate in banking activities with confidence. Myanmar Economic Bank is a state-owned bank that is trusted by the public, and managers need to continuously take supervisory and inspection measures to increase deposits from the public, provide quality loans in accordance with the bank’s rules and regulations through effectively using the deposits and ensure that loan utilization is systematic, Union Minister U Win Shein said.
It is necessary to focus on ensuring that loans are repaid within the specified period and that arrears are reduced. In order to supervise banking operations in a timely manner, the bank’s internal audit department is to regularly inspect bank branches as well as to carry out off-site inspections of branches that are hard to reach, he said.
