Western Union to Launch International Money Transfer Services in Myanmar

Western Union to Launch International Money Transfer Services in Myanmar PR Newswire DUBAI, UAE, September 12, 2012 DUBAI, UAE, September 12, 2012 /PRNewswire/ -- Myanmar Oriental Bank first Agent signed; Western Union poised to expand Agent presence and link its global network to Myanmar The Western Union Company (NYSE: WU), a global leader in payments, today announced the signing of Myanmar Oriental [SM]Bank, its first Agent to offer Western Union® Money Transfer Services in Myanmar. The service will offer Myanmar citizens a reliable and swift way to receive money from family and loved ones from around the world. Western Union is one of the first global money transfer companies to operate in Myanmar, paving the way for formalized international money transfers three months after countries led by the US, European Union and Australia decided to lift investment and trade bans against the country. Over two million Myanmarese are estimated to be employed across Thailand, Malaysia, Singapore, Bangladesh, Japan, Korea, US, Europe and Australia. Myanmar Oriental Bank, a leading domestic bank in operation for 19 years, is among the first batch of private banks to be authorized to operate foreign currency services in Myanmar. With a network of 19 locations, including representation in main commercial cities of Yangon, Mandalay, Mawlamyaing and Monywa, the Bank will work with Western Union to activate its services in accordance with Central Bank regulations.