KBZ Bank is suing the owner of Myanmar Industrial Port over alleged unpaid debts of more than US$200 million, in a case that is symptomatic of the problems facing the country’s leading banks as they seek to resolve legacy non-performing loans.
A “collateral-free” loan scheme for small and medium enterprises launched by the Myanmar government in 2014 looks functional on paper, but business owners say it is nearly impossible to access and does not provide enough money to be useful.
BY Frontier
