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 . In April last year, Japan's Tokyo-Mitsubishi UFJ became the first foreign bank in decades to open a branch in Myanmar. 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 ##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 .