Industry Banking Defunct 2005 (2005) Founder Kyaw Myint Ceased operations 2005 | Fate Dissolved Headquarters Yangon Founded 1994 | |
Myanmar May Flower Bank was a bank of Burma. Founded in 1994 by U Kyaw Myint, it was formerly the third largest bank in the country with ten branches. Myanmar May Flower Bank was the first bank in Burma to have 24-hour automatic teller machines also was the first to introduce computer networks for transactions back in November 1995. In 1998, U Aik Hok and U Win Naing bought a large number of shares in May Flower Bank from U Kyaw Win, and since then the bank’s activities have declined a little. It has, like Banco Delta Asia, been designated as a "primary money laundering concern" by the United States Treasury and thus is subject to very strict regulations in its dealings with American banks. The bank's license was revoked by government authorities in March 2005 following a money laundering investigation.