Myanmar-Russia Discuss Banking Cooperation and Other Matters

It is known that Myanmar and Russia discussed banking cooperation between the two countries and other matters. The Governor of the Central Bank of the Russian Federation and the Governor of the Central Bank of the Republic of the Union of Myanmar held discussions when they met at the Central Bank of the Russian Federation in Moscow, Russian Federation, on the afternoon of June 29. It is known that during the meeting, discussions were held on banking cooperation between Myanmar and Russia, and on matters related to improving the work performance of staff at the Central Bank of Myanmar. Subsequently, they met with officials from Sber Bank in Moscow, where they were given a presentation on the bank's banking services. They discussed Sber Bank's services, including cyber security technology, technology for detecting and combating financial fraud, and the "Smile Pay" payment system, a technology that uses biometrics without the need for mobile phones or cards. It is known that the delegation led by the Governor of the Central Bank of the Republic of the Union of Myanmar attended the Financial Conference hosted by the Central Bank of the Russian Federation in St. Petersburg from July 1 to 3, and discussed the development of new technologies in the international financial market, the use of digital platforms based on the Russian ruble in the financial market, the need for robust supervision by bank regulators with the use of cryptocurrencies, and policies related to macroeconomic stability. In addition, discussions were held with central bank governors who attended the financial conference, led by the Governor of the Central Bank of the Russian Federation. It is known that approximately 11,000 people from 18 countries attended the financial conference, including central bank governors, deputy governors, and heads of financial institutions from Indonesia, Belarus, India, Egypt, Myanmar, Laos, Cambodia, and Nicaragua. Furthermore, the Governor of the Central Bank of Nicaragua and the Governor of the Central Bank of the Republic of the Union of Myanmar held separate discussions to promote banking cooperation between Myanmar and Nicaragua. It is known that the delegation led by the Governor of the Central Bank of the Republic of the Union of Myanmar returned to Myanmar on July 5.