Myanmar’s Central Bank Heads for the Cloud

Grazed from WSJ.  Author: Yoree Koh.

Myanmar’s central bank is headed for the cloud.   After decades of performing the bulk of the Central Bank of Myanmar’s work longhand, a trio of Japanese companies are pushing the institution to the technological cutting edge. The three companies — Daiwa Institute of Research Ltd Limited and KDDI Corp.  — collaborated to build the Southeast Asian country its first Internet-linked computing platform in an attempt to help the central bank’s antiquated systems keep pace with Myanmar’s rapid change.

Myanmar has ushered in a raft of reforms over the last 18 months in a move to breathe new economic life into the country lift impoverished and stuck in time after decades of military rule ended two years ago. One of the key challenges is to modernize Myanmar’s aging systems…

The wide-ranging and extensive menu includes its power grid and sewage system as well as a need to bolster its financial institutions.  The central bank’s painstaking method of performing most of its complex operations by hand was a headache in the making. In stepped Japan Inc…

Read more from the source @ http://blogs.wsj.com/japanrealtime/2012/12/26/myanmars-central-bank-heads-for-the-cloud/