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Business News Digest
Central bank systems operational
Reducing manual operations with Japanese cooperation
On January 5, the Myanmar Central Bank's core system (CBM-NET) which handles bank settlements began operations. Supported by Japanese grant aid, NTT Data and Daiwa Institute of Research handled the implementation. Until this time, bank settlements had been done manually. The system links the branches of 38 private sector banks with a dedicated line and aims to improve settlement processing efficiency. On January 18, an opening ceremony was held.