ANZ said yesterday it had been awarded preliminary approval for a banking licence by the Central Bank of the Republic of the Union of Myanmar, allowing it to provide banking services to foreign companies operating in Myanmar as well as local financial institutions.  "Given its size, economic potential and its strategic position between China and India, Myanmar is forecast to be one of the fastest growing economies in the region over the medium term," said Andrew Géczy, chief executive officer of ANZ's International and Institutional Banking division. Géczy acknowledged the support of the Australian Government in gaining the licence approval for ANZ, amid ongoing sanctions.Rajesh Ahuja, ANZ's Chief Representative in Myanmar, will continue to lead the local entity, reporting to Grant Knuckey, ANZ's CEO for Cambodia Laos and Myanmar. It's expected ANZ will begin operating under the new licence in June 2015.