Since 1993, the Central Bank of Myanmar (CBM) has been issuing 3- and 5-year treasury bonds to the public.

The Government of the Union of Myanmar started the process of financial liberalization in the early 1990s, allowing private sector participation in financial activities. In 1996, the Myanmar Economic Bank and Japan’s Daiwa Institute of Research Ltd. established a joint venture—the Myanmar Securities Exchange Centre Co., Ltd (MSEC)—to help develop an organized capital market in Myanmar.

Legal infrastructure is also being improved, including enactment of the Myanmar Companies Act and Myanmar Companies Rules. The Ministry of Finance and Revenue (MFR) and the Attorney General’s Office are jointly drafting a Myanmar Securities Exchange Law.