Corporate News

Ayeyarwady Bank (AYA) and Siam Commercial Bank PCL (SCB) sign Memorandum of Understanding (MOU) on Cross Border Payments and Fund Transfer Services

Posted on January 08, 2020

Ayeyarwady Bank (AYA Bank), the second largest bank in Myanmar and Siam Commercial Bank (SCB), a leading bank in Thailand signed a Memorandum of Understanding (MOU) on collaboration in the development of cross border payments and fund transfer services between the two countries. The agreement is to explore and develop cross border payment for workers and for SMEs’ cross border transaction in order to encourage the use of formal cross border channels through the banks. The banks also agreed to explore on the Thai Baht and Myanmar Kyat direct conversion to support and service Thai and Myanmar clients of the banks.