In a July 11 response to queries by SGX-ST, Yoma says Serge and other executives in the banking sector frequently engage with the relevant authorities as part of the standard inquiries and regulatory matters regarding banking activities in Myanmar.
Yoma Strategic Holdings CEO Melvyn Pun has been in regular communications with his father and the company’s executive chairman Serge Pun regarding the progress of the latter’s involvement with relevant authorities in Nay Pyi Taw.
Citing an announcement the Myanmar junta’s information ministry, The Irrawaddy reported that executives at seven private banks including Yoma Bank, AYA Bank and UAB is facing administrative action for allowing their banks to exceed the limit on the amount of home mortgages they can lend set by the Central Bank of Myanmar in January 2019.
