The Myanma Agricultural Development Bank (Burmese: မြန်မာ့လယ်ယာဖွံ့ဖြိုးရေးဘဏ်; abbreviated MADB) is a government-owned bank specialized in providing financial services to agricultural enterprises in Myanmar (Burma), and is the largest financial institution of its kind.[1][2] The bank is owned and operated by the Ministry of Agriculture and Irrigation (MAI), and has 206 branches nationwide.[2] MADB provides loans to a sizable number of rural households, serving 1.87 million customers in 2012.[1][2] MADB loan products typically cover farmers' short-term working capital needs (e.g., purchase of seeds, fertilizers, and pesticides; payment of salaries for farm workers; and lease of agriculture equipment).[2]
Native name | မြန်မာ့လယ်ယာဖွံ့ဖြိုးရေးဘဏ် |
|---|---|
| Company type | State-owned enterprise |
| Founded | 1953 |
| Headquarters | Yangon, Myanmar |
| Products | Banking |
| Parent | Ministry of Agriculture and Irrigation |
History
editMADB was first established as the National Agricultural Bank (နိုင်ငံတော်စိုက်ပျိုးရေးဘဏ်) in June 1953 by the Burmese government to support the development of agriculture, livestock, and rural enterprises in Myanmar.[2] Its immediate predecessor, the Myanma Agricultural Bank, was established in 1976, an offshoot of the Agricultural Finance division of the People's Bank.[3] MAB was renamed in 1990, and was reconstituted in 1997 under the Myanma Agricultural Development Bank Law.[3]
Headquarters
edit
MADB's headquarters have been located on Pansodan Street in downtown Yangon, Myanmar since 1996,[4] occupying a colonial-era landmark that previously housed the Rangoon branch of the National Bank of India.[5] The building was completed in 1930, designed by Thomas Oliphant Foster and Basil Ward; the former architect designed the Myanma Port Authority building.[5] In the 1940s, Grindlays Bank acquired the building.[5] With the Burmese Way to Socialism, the bank was nationalized and converted into People's Bank No. 11 in 1963.[6] From 1970 to 1996, the building housed the National Museum of Myanmar (Yangon).[5]
References
edit- ^ a b World Bank (2014-04-08). "Myanmar Agricultural Development Bank : Initial Assessment and Restructuring Options".
{{cite journal}}: Cite journal requires|journal=(help) - ^ a b c d e "Myanmar Agricultural Development Bank". LIFT. Retrieved 2020-05-23.
- ^ a b Fujita, Kōichi; Mieno, Fumiharu; Okamoto, Ikuko (2009). The Economic Transition in Myanmar After 1988: Market Economy Versus State Control. NUS Press. ISBN 978-9971-69-461-6.
- ^ "6th Blue Plaque (Myanma Agricultural Development Bank) – Yangon Heritage Trust". Retrieved 2020-05-23.
- ^ a b c d "Myanma Agricultural Development Bank – Architectural Guide: Yangon". Retrieved 2020-05-23.
- ^ "Myanmar Agricultural Development Bank | Yangon, Myanmar (Burma) Attractions". Lonely Planet. Retrieved 2020-05-23.