Central Bank of Myanmar Act of Union Bank of Burma 1947" and took over the functions of the Rangoon branches of the Reserve Bank of India. The Union Bank of Burma was opened at the corner of Merchant Road and Sule Pagoda Road and had a sole right of currency issue. CBM has liberalised the financial organisations for competition, efficiency and integration into the regional financial system. As of the end of December 2007, there are 15 domestic private banks and 13 representative offices of foreign banks and three representative offices of foreign insurance companies in Myanmar. According to the changes in the economic
History of the Jews in Myanmar Israel came from India. Under British rule, the local Jewish community prospered as merchants developed small businesses, and traders worked in cotton and rice. The Baghdadi Jews established Musmeah Yeshua synagogue in Rangoon; it is the only synagogue still standing in Yangon or the country. It was first built in the 1850s as a small wooden structure, then rebuilt in 1896. The Jewish cemetery, containing 700 graves, is about six miles away. A Jewish school, for children up to middle-school age, had 200 students at its peak in 1910. After that some parents sent their children to secular schools, especially