Myanmar 's Bank of Investment and Development , E- SUN Commercial Bank , Bank of Investment and Development and Bank of Investment and Development 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. nine overseas banks have now been given permission to operate inside the country. The State Bank of India is among four new foreign banks given preliminary approval to open 100 per cent-owned branches in Myanmar, the latest move by the Southeast Asian nation to woo investment to the country long ruled by the military and hit by Western sanctions. 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 .
Myanmar 's Bank of Investment and Development , E- SUN Commercial Bank , Bank of Investment and Development and Bank of Investment and Development 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. nine 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 .