Our thoughts extend to all those grappling with the devastation wrought by Cyclone Mocha on May 14th, 2023. Cyclone Mocha, a formidable force with sustained winds of 175 MPH and equivalent to a Category-5 hurricane, struck the Bay of Bengal and made landfall in Myanmar's Rakhine, Chin, Sagaing, and Magway Regions as an immensely severe cyclonic storm. This event underscores the pressing need for rehabilitation aid, prompting AYA Bank to take action by launching initiatives aimed at assisting the affected individuals and reconstructing the afflicted regions.
(1) Concerning Our Employees
Throughout and following the calamity, AYA Bank's foremost priority remains the health, safety, and emotional well-being of our personnel. Swiftly responding to field reports and conducting rapid assessments, the Head Office swiftly organized immediate relief provisions, sanitation and hygiene resources, emergency medical services, and psychosocial support for our employees and their families in Rakhine, an area significantly impacted by Cyclone Mocha. On behalf of AYA Bank, guided by the compassionate leadership of our Senior Management, our People and Administrative Teams took proactive steps to assemble care packages and established their presence at Rakhine branches. They extended financial assistance of (MMK 500,000) to each staff member, provided essential supplies, and offered unwavering moral support. Placing our employees at the forefront, comprehensive safety inspections and maintenance measures were implemented prior to authorizing their return to the office environment. This dedicated and considerate approach in the face of adversity vividly showcases our company's resolute commitment to nurturing the well-being and fortitude of our valued workforce.
(2) Concerning Our Stakeholders
Responding to the significant impact of Cyclone Mocha on the vulnerable regions of Rakhine, AYA Bank has initiated a series of measures aimed at furnishing assistance and relief to the affected communities. These actions are strategically devised to mitigate the financial strain faced by both individuals and enterprises in the aftermath of the cyclone.
Acknowledging the pressing requirement for monetary aid and smooth transactions within the stricken areas of Rakhine state, AYA Bank and AYA Pay have jointly declared the temporary suspension of all transaction fees, encompassing deposits, withdrawals, and transfers, up until the conclusion of June 2023. The objective is to facilitate expeditious and cost-free transactions, thereby empowering affected individuals and businesses, regardless of their scale, to efficiently access and manage financial resources during this critical juncture. The decision to waive transaction fees exemplifies our unwavering solidarity with the communities impacted by the cyclone. Through the elimination of this financial impediment, AYA Bank and AYA Pay aspire to bolster individuals and enterprises in the process of rebuilding their lives, reinstating their livelihoods, and expediting the recovery trajectory. AYA Bank and AYA Pay enthusiastically encourage residents of the affected zones to capitalize on the opportunity presented by the waived transaction fees, availing themselves of these services for their financial dealings. All transactions will be expeditiously processed, guaranteeing a seamless and secure encounter devoid of any supplementary charges.
U Myint Zaw, CEO of AYA Bank, expressed, "Our sympathies extend to those who have suffered the loss of their homes in the aftermath of Cyclone Mocha. We empathize with the trials faced by these individuals and extend our deepest condolences during this arduous period. In conjunction with these endeavors, we are proactively formulating comprehensive loan programs to support cyclone-impacted businesses, irrespective of their magnitude." AYA Bank is extending micro loans to local enterprises adversely affected by Cyclone Mocha. These micro loans will serve to assist entrepreneurs and small business proprietors in their efforts to rebuild and recuperate, ultimately nurturing economic stability and resilience within the community.