Regulatory Alerts2016-04-04
Myanmar Central Bank Mobile Financial Services Regulations
The Central Bank of Myanmar issued these regulations to establish a comprehensive licensing and operational framework for Mobile Financial Services Providers (MFSPs). The rules mandate minimum capital, strict float account management, tiered Know Your Customer (KYC) requirements, and robust anti-money laundering controls to ensure system reliability and consumer protection. Furthermore, the regulations empower the Central Bank with supervisory authority to monitor compliance, enforce agent standards, and suspend or revoke licenses for non-compliance.
Share