Singapore, 4 August 2015 – BankersLab® today announced that it has been appointed by joint partners Gesellschaft für Internationale Zusammenarbeit (GIZ) and Standard Chartered Bank (SCB) to lead a learning program designed to develop Myanmar’s retail lending industry.
Supported by the Myanmar Institute of Finance (MIF), the goal of the initiative is to better prepare Myanmar financial institutions for the potential opportunities and challenges presented by Myanmar’s rapidly developing banking industry.
Currently Myanmar’s retail lending is under-developed and extremely limited. With the Central Bank of Myanmar’s issuance of credit card licenses this year, many local banks are preparing to re-launch credit cards on the Myanmar Union Pay platform. As bank industry reforms continue to expand and with the on-going development of the national credit bureau, the banking industry will soon be poised to offer more lending products to meet the demand of consumers.
In August, senior officers from Myanmar’s local banks will join the first in a series of workshops, facilitated over 12 months that are designed to expand bankers’ knowledge of key areas of retail lending.
“It’s important to note that Myanmar is going to ‘leap frog’ into modern banking both in terms of technology and human capital.” Said Michelle Katics, CEO. “This early industry capacity building integrates the latest best practices of gamification of learning. The program is very hands-on and engaging, which leads to fast and effective learning.”
“Not only is retail lending a core business for any retail banking operation, but also is a key focus for emerging economies wanting to harness the power and economic potential of their consumers.” Said Dominic Notario, Project Director, Standard Chartered Bank – Myanmar Representative Office. “We are pleased that BankersLab® can join our initiative to help train knowledgeable credit experts who will lead the development of Myanmar’s nascent retail lending industry.”
For more information contact: Info@BankersLab.com
BankersLab leads the way in delivering innovative, strategic learning across the banking industry. Utilizing a blended learning model, BankersLab integrates numerical simulation, the gamified classroom and mobile learning games – designed to ‘level up’ the expertise of banking professionals. To learn more, explore our website on desktop or mobile device: http://www.bankerslab.com
About Standard Chartered Bank
We are a leading international banking group, with more than 90,000 employees and a 150-year history in some of the world’s most dynamic markets. We bank the people and companies driving investment, trade and the creation of wealth across Asia, Africa and the Middle East, where we earn around 90 per cent of our income and profits. Our heritage and values are expressed in our brand promise, Here for good. Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges as well as the Bombay and National Stock Exchanges in India.
Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH is a federally owned enterprise implementing on behalf of the German Government international cooperation projects in the field of sustainable development. In the framework of the German bilateral cooperation with Myanmar, GIZ is implementing the Financial Sector Development (FSD) project since 2012 (project budget: EUR 9.45 Mio.) aiming at the development of an efficient and stable financial sector in Myanmar.