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Thant Zin, Myanmar's director general of the financial regulatory department, said the government plans to grant licenses to some of the 24 foreign insurers which have opened representative offices in Myanmar, Asia Insurance Review reported citing Anadolu Agency. Myanmar has already approved the insurance market liberalization plan drafted by the Insurance Business Regulatory Board, Mr. Zin said. A selection committee led by Myanmar's deputy finance minister has been established to work on granting licenses within this fiscal year, he added. The current fiscal year ends on March 31, 2018.