Regional business leaders helping a local financial institution reach its potential
The Global Institute for Tomorrow (GIFT) is partnering with Temasek Management Services to bring over thirty mid-level managers from various Temasek portfolio companies to Yangon, Myanmar, from the 19th to the 23rd of October. Together with managers from Yoma Bank—a former GIFT partner— will produce strategic stages to support the bank in its next stage of enterprise development.
Myanmar continues to emerge from years of isolation, and has one of the world’s least developed finance sectors. More than 70% of adults do not have formal access to credit, deposits and other financial services; only 5% of adults have a bank account. As Myanmar continues to open to the global economy, the financial industry is undergoing significant changes, not least in the development of private sector banking.
Yoma Bank, a subsidiary of Yoma Strategic Holdings, is in the race to become one of Myanmar’s leading commercial banks. Having invested heavily in human resources, infrastructure and technology since 2013, Yoma Bank now wants to enhance its transparency and corporate governance to bring its operations up to international standards. Yoma Strategic Holdings has previously worked with GIFT to increase production in Myanmar’s dairy sector and add value along the local dairy supply chain.