Official Announcement of partnership between True Money Myanmar Co., Ltd & MAB

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Press Release Partnership to work with MAB Bank and True Money Myanmar for Mobile Financial Services under Mobile Banking Directives

In a statement released by TrueMoney Myanmar; Managing Director, Mrs. Kyi Thar Romanet, the financial services provider, confirmed that “on the day of TrueMoney turning eight (8) years in Myanmar, we received the official approval from the Central Bank of Myanmar to proceed the partnership with Myanma Apex Bank (MAB) for mobile financial services under Mobile Banking Directives. This partnership has strengthened TrueMoney’s position in the FinTech space in Myanmar and enabled us to provide more comprehensive financial services to our customers, agents and distributors. This partnership will play a very important role in financial inclusivity combining both FinTech and Banking services, together we will accelerate and expand our services to the Myanmar population.

With the official approval from the Central Bank of Myanmar, TrueMoney can continue to provide safest and fastest services for phone top-up, bills payment, money transfer services (Domestic Remittance), cash-in/cash-out services with related e-wallet operators in Myanmar as well as for MAB Bank account holders.”

Myanmar Apex Bank (MAB) Chief Executive Officer, U Kyaw Ni Khin, one of the leading local  banks in Myanmar, confirmed that “We are pleased to announce that MAB is now collaborating in partnership with TrueMoney to provide better services to our valuable customers as we at MAB always strives to continuously and consistently evolve with the banking needs of Myanmar people. We believe that this collaboration will bring the positive impact on the lives of Myanmar people”.

TrueMoney currently operates in seven countries: Myanmar, Thailand, Indonesia, the Philippines, Vietnam, Cambodia and Malaysia, enabling its agents to penetrate far-flung communities and provide rural communities with easier access to payments and financial services.

TrueMoney Myanmar Co., Ltd. was established in November 2014 as part of the Ascend Money group. We work hand in hand with Ascend Money group and its partners to ensure that we are able to effect positive changes in the lives of Myanmar people. To date, we have 23,000 agents located nationwide in Myanmar.

We understand that Myanmar people value their hard-earned money as it signifies hope and a better life for their families. TrueMoney, in partnership with MAB Bank, is committed to highly value these sacrifices and bridging the distance between Myanmar families through our money transfer service that is secure and 100% reliable.

“Myself and the TrueMoney Myanmar team thanks AGD team and its CEO, Ko Htet Tay Za for their support throughout our 8 years partnership. To the MAB team, we look forward to our strong collaboration and enforce our common aim that is to continue to serve both our customers where they can trust and count on our continuous quality service”, Mrs. Kyi Thar Romanet concluded.

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