MYANMAR Rice Federation will launch a new initiative, “MRF RICE – Rice Industry Cashless Ecosystem”, designed to encourage all stakeholders across the supply and distribution chain to adopt mobile money, digital payment and Myanmar’s banking system, according to MRF’s notification dated 16 March.
This programme will be implemented in collaboration with banks and financial institutions, in accordance with Myanmar Digital Economy Roadmap 2030 and the guidelines of the Central Bank of Myanmar, with a view to promoting financial and banking literacy within the private rice sector, promote the use of digital payment systems, and enable the widespread application of modern banking services in the supply and distribution chain including farmers, rice millers, traders, exporters and brokers.
Promoting the use of digital platforms, online services, and electronic payment systems such as MMQR – Myanmar Pay will support a gradual transition from cash-based transactions to a secure and modern digital financial system.
The MRF RICE initiative aims to enhance rice productivity, strengthen financial linkages among stakeholders, reduce reliance on cash, and expand access to financial services within the rice sector. Furthermore, the MRF stated that this initiative will be integrated with the Federation’s other development projects related to digital transformation, modernization, and sustainable development in Myanmar’s agribusiness sector.
As an initial measure, MRF will collaborate with A Bank to promote financial and banking literacy, share experiences and information, and enhance the practical application of digital financial services among stakeholders in the rice industry in Ayeyawady Region.
This collaboration will enhance the understanding of banking services among key participants in the rice value chain and encourage the practical use of digital services.
An MRF RICE Seminar will be held in March 2026 in Ayeyawady Region as the first activity of this collaboration, expecting to attract over 300 farmers, millers, brokers, traders, exporters and financial service providers. The seminar will help disseminate knowledge and practical application of the digital payment system and services, and contribute to the development of the rice market with digitalization.
MRF will collaborate with other authorized Banks in different regions and states as well. — NN/KK