Ministry of Planning and Finance

Myanma Foreign Trade Bank

1. Vision

  • To carry out with modern banking technologies by sustainable reviewing the international banking services.
     
  • To promote the capacity of Bank's staff.
     
  • To do banking business transparently.

2. Mission

  • To be carried out the smooth functioning of banking services as foreign banks.
     
  • To be strived for the development of state and public sectors.

3. Functions

  • Accepting foreign currency deposits and allowing to open current deposit account and interest bearing six months fixed deposit account in USD, EUR and SGD.
     
  • Collecting the proceeds of credit card and traveller's cheque.
     
  • Issuing demand drafts and payment orders.
     
  • Issuing, advising and confirming of letters of credit, issuing shipping guarantee and making payments under L/C.
     
  • Advising L/Cs and amendments received from foreign correspondent banks to our exporter for their necessary process for shipment of the goods 
     
  • Drawing, accepting, negotiating the bills of exchange and shipping documents and collecting for the settlements of export proceeds.
     
  • Serving inward and outward remittances internationally by SWIFT through our foreign correspondent banks with Know Your Customer (KYC) policy and Customer Due Diligence (CDD) to meet the requirements of AML purposes.
     
  • Issuing and advising bank guarantees.
     
  • Arranging correspondent relationship with internal and external financial institutions.