The Mountain Bank, a private commercial bank licensed by the Ta’ang National Liberation Army (TNLA), is expected to begin operations in mid-June with branches in Namkham, Namtu, and Namhsan townships in northern Shan State, according to bank officials.
The bank will launch with initial capital equivalent to about US$500,000, or roughly 2.1 billion kyat at current market rates, a bank official told Myanmar Now. The official said the institution aims to provide financial services to residents in areas where banking access has been disrupted by conflict and instability.
“The main objective is to create a safe, secure, and convenient financial environment for local people who have difficulty accessing financial services,” the official said.
The Mountain Bank plans to conduct transactions in kyat and initially offer deposit, withdrawal, and money transfer services. The bank later intends to expand into savings accounts, payroll services, loans, ATM access. . .
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