AUTHOR: MOEHTETKYAW | 23 JAN 2017
Connor Macdonald
Singaporian microfinance institution Hayman Capital plans to double the size of its Myanmar operation in 2017 in the wake of last year’s much welcomed regulatory changes to the government’s 2011 microfinance law.
In December last year Hayman Capital Co Ltd announced it had passed K4 billion in outstanding loans, growing 129% since April 2016, while this month the company announced it had achieved “breakeven” after 16 months of operation.
“2016 was a very important year, we really showed our performance which is what we declared we would do when we applied for a license with the FRD (Finance Regulation Department),” said Sultan Marenov, Managing Director and CEO of Hayman Capital.
Hayman Capital’s growth comes after the government last August relaxed microfinance regulations, giving both local and foreign MFI’s more flexibility in accessing loans, where they can operate and liquidity and solvency rates.
“It’s a good time to invest, particularly in the microfinance industry in Myanmar because the government has done many good things like open up the industry and lay down some good regulations, so they gave us the opportunity to grow,” Marenov told Myanmar Business Today.
Read more: http://www.mmbiztoday.com/articles/despite-teething-issues-mfi-sector-hayman-capital-aims-double-myanmar-operation-2017