Myanmar housing development bank to open next month
Published on Wednesday, 28 August 2013 20:38
The opening ceremony of Construction and Housing Development Bank ( Photo - EMG)
The Construction and Housing Development Bank Limited (CHDB) will open its first branch within a month, according to their managing director.
The bank was licensed on July 15 and aims to provide cheap housing through installment plans for low-income families, pensioners and government workers.
"We are planning to open a bank branch in one month. After opening, we are planning to buy shares concerning banks. We are arranging in detail for opening a bank branch," said Win Zaw, Managing Director Win Zaw of CHDB.
The company aims sell up to 10 million shares at K 10,000 a unit. The CHDB will allow government employees, staff from private companies and international investors to invest in shares, according to the Ministry of Construction.
"For the low income public, we assume that a financial system which allows a 20 to 30 years long term settlement may be suitable for them. Only then can the low income public own an apartment. That's why we are establishing CHDB," said Minister for Construction, Kyaw Lwin on July 15.
http://www.information.myanmaronlinecentre.com/myanmar-housing-development-bank-to-open-next-month/
No comments:
Post a Comment