Vietnam 's Bank of Investment and Development , E - SUN ##A Bank , Shinhan Bank and State Bank of India have all been given preliminary permission to operate in Myanmar , as part of the government 's latest attempt to attract foreign investment to the emerging economy . Thirteen overseas banks have now been given permission to operate inside the country . Myanmar 's banking system had been closed for decades to outside competition due to junta rule , leaving the country with a creaking financial system infrastructure and its people deeply suspicious of banks , however , this has been slowly changing since 2011 .
Vietnam's Bank of Investment and Development, E-SUN Commercial Bank, Shinhan Bank and State Bank of India have all been given preliminary approval to operate in Myanmar, as part of the government's latest attempt to attract foreign investment to the emerging nation. Thirteen overseas banks have now been given permission to operate inside the country. Myanmar's banking system had been closed for decades to outside competition due to junta rule, leaving the country with a creaking financial system infrastructure and its people deeply suspicious of banks, however, this has been slowly changing since 2011.