Financial services company Western Union has announced a link-up with nine local banks to further expand its operations within Myanmar. The nine local banks are Co-operative Bank, Ayeyarwady Bank, United Amara Bank, Yoma Bank, First Private Bank, Kanbawza Bank, Myanmar Treasure Bank and Myanmar Oriental Bank which altogether have 460 Western Union outlets across the country to send and receive funds; an important service for Burma’s estimated two million migrants around the world.
The announcement was made on the first anniversary of Western Union moving into the Southeast Asia nation and the new deal means that Myanmar citizens living abroad, a figure which the company estimates to be around two million, will be able to send money to their home country. Following a sharp increase in the number of its service outlets in Myanmar, Western Union Company becomes the largest global money transfer provider in the country. The company looks to the emerging markets of Asia and Africa where workers abroad seek convenient and reliable money transfer solutions to send money back home. The Western Union Company not only boasts a global presence, the company also boasts a solid reputation in the business.