United Amara Bank was established in 2010 as a full fledged Domestic private bank. On 16th August 2010, we opened our first branch in Nay Pyi Taw and the branch network has since grown to 22 branches. It is envisaged that the network will further expand to 30 branches by end -2014.
In 2011, an Authorised Dealer License was obtained allowing the Bank to do foreign exchange transactions through its Money Changer Counters and subsequently on 9th July 2012, a Foreign Banking License was obtained which enabled the Bank to perform foreign banking transactions. The Bank is now fully licensed to make International money transfers and issue Letters of Credit.
On 27 th December 2012, the Bank began inbound money remittance through its partnership with Western Union Payment Inc and in 2013, a principal license was obtained from VISA and MasterCard for the acquiring business.
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