Yangon, 1st May 2020 – uab bank, Myanmar’s Best Bank by Euromoney, today in commemorating Labour Day, announced the launch of a bursary and scholarship program for children of employees.
The program aims to provide financial assistance in the form of bursaries and scholarships to 100 children of uabians annually and is open to those studying in government educational institutions from primary level up to university. uab bank expects to allocate approximately MMK 250 million for this program in the coming years.
The bursary will provide financial assistance to primary school, middle school, high school and
full-time university students. In order to qualify, employees will be required to provide information of their financial standing and family income and demonstrate the desire of their children to study.
The scholarships, on the other hand, will be a longer-term sponsorship of talented children of employees studying full time at Government universities in Myanmar. In order to qualify for a scholarship, each scholar will be required to demonstrate outstanding academic results whilst having a balance in extracurricular activities and community service.
George Koshy, Head of Human Resources at uab bank commented, “At uab bank, we recognise that our employees are our most valuable asset, and we understand the effects of the increasing cost of living plus the economic damage caused by COVID-19 on many families. People often struggle to financially provide for their families and therefore we are launching this bursary and scholarship program on Labour Day 2020 to deserving children of employees as part of our commitment to support our employees and empower children.”
Christopher Loh, MD & CEO further added, “Labour Day is a day to recognise the contribution of our uabians and we are pleased to be able to introduce this program to support our employees who may need assistance. Education is very important as it creates opportunities and increases social mobility. This is in line with our desire to empower women and children in order to nurture future leaders and a better Myanmar that is inclusive for all.”
About uab bank
uab bank is a leading bank in Myanmar, recognised for its successful transformation and leadership in the Myanmar banking sector amidst the regulatory changes and governance requirements, uab bank was named “Myanmar’s Best Bank” by Euromoney, “Best Bank for Corporate Governance Myanmar” by Global Banking & Finance, “Mid-sized Domestic Retail Bank of the Year” by Asian Banking & Finance, and was ranked No. 1 in Corporate Governance Disclosure by Pwint Thit Sa (TiME) Report published by the Myanmar Centre for Responsible Business.
Established in 2010, we are now serving our customers from a growing network of over 78 branches in 47 townships across Myanmar. uab provides a wide range of financial services including consumer banking, premier banking, SME banking, corporate banking, trade finance and treasury services. Through our subsidiary uab securities, we also provide brokerage services, corporate and financial advisory, investment banking and capital market activities.
At uab bank, we believe in leading the way towards a better Myanmar, humanising banking, connecting people, creating opportunities and changing lives. In December 2017, uab launched
“Be The Change Myanmar” initiative that represents our commitment to driving change for a better Myanmar, specifically focusing on empowering women and children. We believe uab must operate responsibly and be committed to the community we are in.
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