UK banks face pressure over loans to Myanmar military-linked firms
LONDON: Human rights groups have criticized two of the UK’s largest banks after they granted tens of millions in loans to a technology business developing a telecommunications project used by Myanmar’s military, British newspaper The Observer reported on Sunday. HSBC and Standard Chartered loaned $60 million to Vietnamese telecoms giant Viettel over the past four years, at a time when the Myanmar military has been accused of war crimes and genocide against Rohingya Muslims. Viettel is a major investor in Mytel, a Myanmar mobile network that has grown to service more than 10 million users ...
Source: arabnews.com