Western Union Celebrates First Anniversary In Myanmar With Nationwide Service Coverage

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Western Union expands agent network to 9 leading banks to offer unprecedented convenienceas country’s largest international money transfer network with over 460 Agent locations*, providing service in every state & divisionPre-departure awareness program funded by the Western Union Foundationand local banks to support Myanmar workers going overseas

[YANGON, MYANMAR ] – On May 9, 2014, (PressReleasePoint) the Western Union Company (NYSE: WU), a leader in global payment services,marked its first anniversary in Myanmar with a special celebration in Yangon, themed “Journey to Prosperity.”
In attendance at the event was Mrs. Thida Myo Aung, Deputy Director General, Financial Institution Supervision Department, Central Bank of Myanmar, Mr. Kieran Gorman-Best, Chief of Mission, International Organization for Migration, and executives from nine of the country’s leading banks.
Western Union is one of the first global money transfer companies to provide service in Myanmar, paving the way for formalized international money transfers after sanctions were eased in 2012. Since its official service launch at the beginning of 2013 with just over 100 Agent locations in the key commercial towns, the Western Union® Money TransferSM service is now available at over 460 Agent locations1 across the country. Chin State, a mountainous area and one of the most difficult-to-access states in Myanmar for financial services, is the latest state to be covered with Western Union’s international service in collaboration with Cooperative Bank.
The recent signing of Yoma Bank as Western Union’s ninth agent in Myanmar will add over 50 locations and consolidates Western Union’s position as the largest international money transfer in Myanmar, linking consumers here with one of the world’s largest money transfer networks with over 500,000[1] locations in over 200 countries and territories.
Thida Myo Aung, Deputy Director General, Financial Institution Supervision Department, Central Bank of Myanmar said: “Myanmar has made great strides over the past two years. Our own journey to prosperity has been made possible thanks to companies like Western Union, whose vision to make the world a smaller and more connected place has brought numerous benefits to the people and economy of Myanmar.”

Business, money transer, MYANMAR

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