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Economy

Myanmar lets foreign banks buy into local peers

Central bank permits stakes as large as 35% to boost liquidity for businesses

Myanmar is letting foreign interests invest in domestic banks with the aim of boosting capital for lending.
Myanmar is letting foreign interests invest in domestic banks with the aim of boosting capital for lending.   © Reuters

YANGON -- Myanmar's central bank will allow foreign banks to hold stakes of up to 35% in domestic banks, part of reforms to boost capital levels and activity in the financial sector.

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