Financial Crisis in Myanmar

07/29/2021 02:00 pm 07/29/2021 03:30 pm Australia/Melbourne Financial Crisis in Myanmar

Following the military coup in February 2021, Myanmar’s banking system has nearly collapsed. The country’s banks are experiencing cash shortages, while the Central Bank is struggling to disburse enough funds to private banks to cover withdrawals for account-holders’ daily needs. This is a clear sign of the country’s fragile economy. The World Bank has forecast the Myanmar economy will contract by 10% this year, as a result of post-coup turmoil. In this webinar, a panel of economic, commerce and financial services experts will discuss the causes of the banking crisis, its impact on households, businesses and the overall economy, and potential ways out of the crisis.

Speakers

Mr Neil Waller, Wave Money Myanmar

Neil Waller is the Chief Risk Officer at Wave Money, a leading fintech company in Myanmar. Prior to joining Wave, Neil worked in financial services with a major Australian bank for over 30 years and spent time in Retail, Commercial and Corporate banking. For the past 12 years, he has worked in senior leadership risk management roles covering operational, compliance and credit risk functions. During this time he has worked in Australia, Hong Kong, India, Singapore and Japan. Neil has a Graduate management qualification from the Australian Graduate School of Management and is a graduate of the Australian Institute of Company Directors.

Dr Debdulal Mallick, Deakin University

Dr Debdulal Mallick is an Associate Professor in the Department of Economics at Deakin University. He holds a Bachelor of Social Science in economics from the University of Dhaka, Bangladesh, a Master in Economics from the Delhi School of Economics and a PhD from Emory University, USA. Debdulal's main areas of research are macroeconomics and development economics.

Dr Russell Toth, The University of Sydney

Russell Toth is a senior lecturer in the University’s School of Economics. He is a development microeconomist focusing on the development of the private sector (firms, access to finance, entrepreneurship, markets and role of new technologies). The projects he works on frequently overlap with environmental, agricultural and behavioural economics and the political economy. Russell’s current fieldwork is focused in Indonesia and Myanmar.

Moderator

Mr Chris Hughes, Chairman of the Australian Chamber of Commerce, Myanmar

Chris Hughes is a founding partner of independent Myanmar firm SCM Legal, which he started after a 20-year career with international law firms. He has been based in Myanmar since 2013, and drafted the Myanmar Companies Law 2017 and Myanmar Investment Rules 2017 for the government. He has successfully executed projects in the telecommunications, infrastructure, energy, transport, financial services, tourism, commercial real estate, consumer goods, oil and gas, mining, manufacturing, education, healthcare, agriculture and government sectors in Myanmar.

Event host

Dr Shahriar Abu Zafar, Monash Business School

Organised by

The Centre for Global Business’ (CGB) South Asia Research Network (SARN) and the Australian Chamber of Commerce in Myanmar.

Register now

Register via Zoom

Event Details

Date:
29 July 2021 at 2:00 pm – 3:30 pm
Venue:
Online - Melbourne time
Categories:
Global Business; CGB Webinar Series; South Asia Research Network

Description

Following the military coup in February 2021, Myanmar’s banking system has nearly collapsed. The country’s banks are experiencing cash shortages, while the Central Bank is struggling to disburse enough funds to private banks to cover withdrawals for account-holders’ daily needs. This is a clear sign of the country’s fragile economy. The World Bank has forecast the Myanmar economy will contract by 10% this year, as a result of post-coup turmoil. In this webinar, a panel of economic, commerce and financial services experts will discuss the causes of the banking crisis, its impact on households, businesses and the overall economy, and potential ways out of the crisis.

Speakers

Mr Neil Waller, Wave Money Myanmar

Neil Waller is the Chief Risk Officer at Wave Money, a leading fintech company in Myanmar. Prior to joining Wave, Neil worked in financial services with a major Australian bank for over 30 years and spent time in Retail, Commercial and Corporate banking. For the past 12 years, he has worked in senior leadership risk management roles covering operational, compliance and credit risk functions. During this time he has worked in Australia, Hong Kong, India, Singapore and Japan. Neil has a Graduate management qualification from the Australian Graduate School of Management and is a graduate of the Australian Institute of Company Directors.

Dr Debdulal Mallick, Deakin University

Dr Debdulal Mallick is an Associate Professor in the Department of Economics at Deakin University. He holds a Bachelor of Social Science in economics from the University of Dhaka, Bangladesh, a Master in Economics from the Delhi School of Economics and a PhD from Emory University, USA. Debdulal's main areas of research are macroeconomics and development economics.

Dr Russell Toth, The University of Sydney

Russell Toth is a senior lecturer in the University’s School of Economics. He is a development microeconomist focusing on the development of the private sector (firms, access to finance, entrepreneurship, markets and role of new technologies). The projects he works on frequently overlap with environmental, agricultural and behavioural economics and the political economy. Russell’s current fieldwork is focused in Indonesia and Myanmar.

Moderator

Mr Chris Hughes, Chairman of the Australian Chamber of Commerce, Myanmar

Chris Hughes is a founding partner of independent Myanmar firm SCM Legal, which he started after a 20-year career with international law firms. He has been based in Myanmar since 2013, and drafted the Myanmar Companies Law 2017 and Myanmar Investment Rules 2017 for the government. He has successfully executed projects in the telecommunications, infrastructure, energy, transport, financial services, tourism, commercial real estate, consumer goods, oil and gas, mining, manufacturing, education, healthcare, agriculture and government sectors in Myanmar.

Event host

Dr Shahriar Abu Zafar, Monash Business School

Organised by

The Centre for Global Business’ (CGB) South Asia Research Network (SARN) and the Australian Chamber of Commerce in Myanmar.

Register now

Register via Zoom