On 29th June 2022, the Central Bank of Myanmar (“CBM”) issued the Letter No. FE-1/643 for exemption of the foreign currency conversion requirements under the CBM Notification No. 12/2022 to exclude the following entities from the foreign currency conversion requirement:
- Representative Office of Woori Bank;
- Special Economic Zone Management Committees and their subordinated companies, such as Thilawa SEZ Management Committee Company Limited, Kyaukphyu Special Economic Zone Project Development Company Limited, Kyaukphyu Special Economic Zone Deep Sea Port Company Limited, and Dawei SEZ Management Committee Company Limited;
- Export-Import Bank of India;
- China National Oil Corporation – CNUOC (Myanmar Branch); and
- Panjab [sic] National Bank Yangon Representative Office.
To see the archive of our past newsletters and articles please click here.
- Partner | yangon
- Associate | yangon
The information provided in this document is general in nature and may not apply to any specific situation. Specific advice should be sought before taking any action based on the information provided. Under no circumstances shall LawPlus Ltd. and LawPlus Myanmar Ltd. or any of their directors, partners and lawyers be liable for any direct or indirect, incidental or consequential loss or damage that results from the use of or the reliance upon the information contained in this document. Copyright © 2016 to 2020 LawPlus Ltd.