International Banking Products and Services Of Global Treasure Bank
GTB is engaged in foreign banking activities with the authorized dealer license and money changer license granted by CBM by opening Nostro Account with five correspondent banks and establishing RMA with six foreign banks. GTB is carrying out export/import services, bank guarantee service, trade financing and cross border business. Currently contact is being made with Punjab National Bank from India to be able to carry out India-Myanmar cross border activities. In this regard, Special Rupee Vostro Account (SRVA), a new trade mechanism to settle international trade in Rupees has already been opened.
Global Treasure Bank operates 22 Money Changer Counters in strategic areas such as Yangon head office, Mandalay-Yadanabon Diamond Plaza, Mandalay 26 Street, Mandalay SaiTan bank , Thandwe (Rakhine), Naypyitaw, ShweBo (Sagaing Region), Kalay (Sagaing Region), Mawlamyaing – 1 , Mawlamyaing – ZayKyo , Kawthaung, Dawei, Monywa, Sawbwargyigon, Pyay, ShweBonTha, Katha, Myawaddy, Muse, Maung Taw, Tamu, Maungmakan Township.
The bank provides a range of services including foreign exchange, foreign currency accounts, money transfer, SWIFT remittance, bank guarantee and trade finance such as letters of credit, bills for collection, trust receipts and import & export (TT & LC) trade financing in major foreign currencies such as USD, Euro, Singapore Dollars, Malaysia Ringgit and Thai Baht. For sustainability of GTB, and to earn more foreign currency, GTB has been extending cooperation with foreign banks to promote trading activities inclusive of cross border trade. For these purposes, GTB has opened accounts with foreign banks to ensure safe, secure and swift international banking activities.
(A) The foreign banks with which we have opened accounts are:
1. United Overseas Bank (UOB) Singapore
2. First Abu Dhabi Bank (Singapore)
3. Punjab National Bank ( formally United Bank of India)
4. Krung Thai Bank, Thailand
5. Kasikorn Bank , Thailand
(B.) Our correspondent banks linked with Relationship Management Application are:
1. Uni-credit Bank
2. Busan Bank, Korea
3. Woori Bank ( Yangon Branch)
4. BIDV ( Bank for Investment and Development of Vietnam)
5. ICBC ( Industrial and Commercial Bank of China) Yangon Branch
6. Shinhan Bank ( Korea)
The Central Bank of Myanmar on 26th October in 2023 granted GTB as a Designated Bank to exchange Baht into Kyat and vice versa for bilateral trading between Thai and Myanmar as well as to exchange Yuan into Kyat and vice versa for bilateral trading between China and Myanmar. And on 31st July,2024 the same procedure was granted to exchange Rupee into Kyat and vice versa. GTB would like to make it known to the importers/ exporters that we are now offering the said currencies exchange services to facilitate their border trade activities.
