Core Banking System Implementation Project (Modernization of Public Finance Management Project)

Status:

Implementation

Start:

FY2014-2015

End:

FY2020-2021

Sectors

Public finance management

Project Description

The project is one of the components of the Modernization of Public Finance Management Project (Phase I) and the project period is from 2014-2015 to 2020-2021 fiscal year. Core Banking System will be initially installed at MEB (HO), Nay Pyi Taw, and Pyinmana Branches as pilot projects, together with (83) branches in three stages (31+18+34 branches). The objectives are to improve the provision of timely and accurate bank statements of State Fund Accounts to the respective departments/organizations, to provide accurate financial information in timely and efficient way, to create a fast, easy and secure payment system.

Project Expected Benefits

This project is expected to upgrade the reporting system, integrate with respective departments/organizations’ systems, to become cashless society by reducing cash handling of the public, to increase time savings, access to any banking service from any MEB branch, access banking services and information over the internet from anywhere through international standard core banking system.

Locations

Nay Pyi Taw Union Territory

Total Project Cost

11.95M

Financing Type

Development Assistance

Implementing Government Agency

Ministry of Planning and Finance

Donors

The World Bank

Myanmar Sustainable Development Plan Alignment

Contact Detail

Daw Moe Thidar

Assistant General Manager/Myanmar Economic Bank, Ministry of Planning, Finance and Industry

moethidarmg@meb.gov.mm

Description	The project is one of the components of the Modernization of Public Finance Management Project (Phase I) and the project period is from 2014-2015 to 2020-2021 fiscal year. Core Banking System will be initially installed at MEB (HO), Nay Pyi Taw, and Pyinmana Branches as pilot projects, together with (83) branches in three stages (31+18+34 branches). The objectives are to improve the provision of timely and accurate bank statements of State Fund Accounts to the respective departments/organizations, to provide accurate financial information in timely and efficient way, to create a fast, easy and secure payment system.
Expected Benefits	This project is expected to upgrade the reporting system, integrate with respective departments/organizations’ systems, to become cashless society by reducing cash handling of the public, to increase time savings, access to any banking service from any MEB branch, access banking services and information over the internet from anywhere through international standard core banking system.
Implementing Government Agency	Ministry of Planning and Finance	Donors	The World Bank
Total Project Cost	$ 11.95M
Status	—	Implementation Period	FY2014-2015 - FY2020-2021
Ministry	Ministry of Planning and Finance
Location	Nay Pyi Taw Union Territory 📍 Loading map...
Sector Categories	Public finance management
Contact	Daw Moe Thidar Assistant General Manager/Myanmar Economic Bank, Ministry of Planning, Finance and Industry Ministry of Planning and Finance 067 3422838 moethidarmg@meb.gov.mm