Regulatory Alerts2021-10-12
Central Bank of Myanmar Instruction No. 16/2021 on Foreign Currency Transactions
The Central Bank of Myanmar issued Instruction No. 16/2021 to standardize foreign currency purchase and sale operations across authorized dealers, licensed banks, bank-affiliated companies, and money changers. This directive repeals or amends four prior instructions (Nos. 6/2011, 7/2011, 16/2012, and 17/2015) to streamline regulatory compliance for foreign exchange transactions. Financial institutions holding either Authorized Dealer or Money Changer licenses must now adhere to these updated operational guidelines effective October 12, 2021.
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