Key Singapore bank UOB moves to cut off Myanmar

Clampdown seen as response to U.S. pressure, reputational risks

20230808 UOB Myanmar Military

Singapore's United Overseas Bank is clamping down on business with Myanmar, a move one Yangon-based foreign financial sector expert said could have a "huge" impact. (Source photos by AP and Reuters) 

GWEN ROBINSON, Nikkei Asia editor-at-large

BANGKOK -- A key Singaporean bank is cutting off counterparts in Myanmar, ending correspondent bank relationships in a move that could significantly restrict the military regime's access to the global financial system.

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