Regulatory Alerts2015-06-24
Instruction No. 19/2015 on Foreign Currency Cash Withdrawal Limits
The Central Bank of Myanmar has amended Instruction No. 16/2015 to reduce the per-transaction foreign currency cash withdrawal limit for authorized dealer banks from USD 10,000 to USD 5,000, capping cash withdrawals at twice per week and mandating account transfers for amounts exceeding this threshold. The directive maintains exemptions for government departments, embassies, UN and international organizations, and foreign investment companies, allowing them to withdraw larger sums upon submission of a signed request detailing the purpose and amount. This adjustment aims to preserve national foreign currency reserves while ensuring liquidity for key institutional and corporate clients.
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