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Finance

StanChart's surprise exit from Myanmar bank license process raises questions

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Several international players have unexpectedly pulled out of Myanmar's bank-licensing process, which is being overseen by the country's central bank.   © Reuters

A last-minute decision by Standard Chartered Bank of the U.K. and a number of Asian banks to abandon plans to apply for the first wave of foreign branch licenses in Myanmar by the July 14 deadline has caught local officials off guard and raised questions among regional bankers about internal issues at StanChart.

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