AUNG KO WIN Founder & Chairman Emeritus, Kanbawza (KBZ) Group

🔹 Early Life and Education

Aung Ko Win was born in Myanmar and began his professional life as an educator. He graduated from Mandalay University with a Bachelor’s degree in Chemistry, and initially worked as a high school teacher. His shift from education to entrepreneurship marked the beginning of a transformative journey, both for himself and for Myanmar’s business landscape.

🔹 Transition into Business

In the late 1980s, following Myanmar’s shift toward limited market liberalization, Aung Ko Win ventured into the trading and gem mining sectors. He is known to have had strong ties with former senior military leader General Maung Aye, which facilitated access to mining concessions and early business opportunities. This period laid the foundation for what would become the KBZ Group of Companies.

🔹 Founding Kanbawza Bank

In 1994, Aung Ko Win officially founded Kanbawza Bank Ltd. in Taunggyi, Shan State. At the time, Myanmar’s private banking sector was in its infancy. Under his leadership, KBZ Bank rapidly grew in size and influence:

Started with just 4 branches in Shan State.

By the 2010s, expanded to over 500 branches nationwide.

Played a leading role in introducing modern banking services to Myanmar.

In 2017, KBZ Bank launched KBZPay, Myanmar’s first mobile wallet, which has since become a major force in driving financial inclusion and digital payments in the country.

🔹 Expansion of KBZ Group

Beyond banking, Aung Ko Win grew KBZ into a diversified conglomerate, active in:

Banking & Insurance – KBZ Bank, I-KBZ Insurance

Airlines & Logistics – Air KBZ (domestic airline, divested in later years)

Mining & Gems – Formerly held extensive jade mining licenses

Agriculture & Construction

Telecommunications – Early investor in infrastructure

Hospitality & Tourism

At its peak, the KBZ Group employed over 80,000 staff and became one of the most powerful private business groups in Myanmar.

🔹 Philanthropy & Social Impact

Aung Ko Win established the Brighter Future Myanmar Foundation (BFM) in collaboration with his daughters, Nang Kham Noung and Nang Lang Kham, who now play major leadership roles in the group.

Key initiatives include:

Disaster relief – In 2015, BFM donated over US$3.6 million to support flood victims.

Healthcare – Funding hospitals and mobile clinics in underserved areas.

Education – Scholarships, school infrastructure, and digital learning programs.

Community development – Water, sanitation, housing, and agricultural support in remote communities.

🔹 Awards and Recognition

Thray Sithu – One of Myanmar’s highest honorary titles, awarded by the government.

Banker of the Year (2015) – Presented at the London Stock Exchange.

ASEAN Entrepreneur Legacy Award (2017) – Recognized for lifetime achievements in entrepreneurship and philanthropy.

Honorary Doctorate Degrees from several institutions for contributions to business and national development.

🔹 Influence & Legacy

Aung Ko Win has held several important roles in national business and civil organizations:

President, Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI)

Chairperson, Myanmar Gems and Jewellery Entrepreneurs Association

Patron, Shan State Anti-Narcotics Association

Active in promoting national economic development and regional business diplomacy.

While he has gradually stepped back from daily operations, he continues to serve as Chairman Emeritus of KBZ Group. Leadership of the bank and philanthropic arms has transitioned to his daughters, who have modernized the business with a focus on technology, transparency, and impact investing.

🔹 Conclusion

Aung Ko Win is one of the most influential self-made businessmen in Myanmar’s modern history. Through KBZ Group, he pioneered the growth of Myanmar’s private sector and banking system, while simultaneously channeling wealth into transformative philanthropy. His legacy continues through the ongoing expansion and social responsibility efforts of the KBZ Group, led by the next generation.

❓ FAQ — Aung Ko Win and the KBZ Group

Q1. Who is Aung Ko Win?
Aung Ko Win is the Founder and Chairman Emeritus of the Kanbawza (KBZ) Group, one of Myanmar’s largest and most diversified conglomerates. He began his career as an educator before transitioning into business in the late 1980s.

Q2. What is the KBZ Group?
The Kanbawza (KBZ) Group is a major Myanmar business conglomerate active in banking, insurance, mining, aviation, construction, telecommunications, and social development. It includes KBZ Bank, I-KBZ Insurance, and the Brighter Future Myanmar Foundation (BFM).

Q3. When was KBZ Bank founded?
KBZ Bank was founded in 1994 in Taunggyi, Shan State, by Aung Ko Win. Starting with just four branches, it has since expanded to over 500 branches nationwide, becoming Myanmar’s largest private bank.

Q4. What is KBZPay?
KBZPay is Myanmar’s first mobile wallet, launched by KBZ Bank in 2017. It revolutionized digital banking and financial inclusion by allowing millions of users to make cashless transactions safely and conveniently.

Q5. What philanthropic work is Aung Ko Win known for?
Aung Ko Win co-founded the Brighter Future Myanmar Foundation (BFM) with his daughters, focusing on disaster relief, healthcare, education, and rural development. BFM has donated millions toward humanitarian causes, including flood recovery and school infrastructure.

Q6. What awards has Aung Ko Win received?
He has been honored with several national and international awards, including:

• Thray Sithu, one of Myanmar’s highest honorary titles.

• Banker of the Year (2015) at the London Stock Exchange.

• ASEAN Entrepreneur Legacy Award (2017) for business and philanthropic achievements.

Q7. What roles has Aung Ko Win held in business organizations?
Aung Ko Win has served as President of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), Chairperson of the Myanmar Gems and Jewellery Entrepreneurs Association, and Patron of the Shan State Anti-Narcotics Association.

Q8. Who leads KBZ Group today?
Today, KBZ Group’s leadership has transitioned to his daughters, Nang Kham Noung and Nang Lang Kham, who oversee banking and philanthropic operations with a renewed focus on technology, transparency, and sustainable impact.

Q9. What is Aung Ko Win’s legacy?
Aung Ko Win’s legacy lies in his transformation of Myanmar’s private banking sector, creation of thousands of jobs, and dedication to philanthropy. Through KBZ and BFM, he continues to influence Myanmar’s economic and social development.

Q10. Where is KBZ Group headquartered?
The KBZ Group is headquartered in Yangon, Myanmar, with operations and affiliated offices across major cities and key business regions throughout the country.