Regulatory Alerts2022-04-05
Central Bank of Myanmar Notification 12/2022 on Foreign Currency Repatriation
The Central Bank of Myanmar issued Notification 12/2022 to mandate that residents repatriate all foreign currency income from abroad into the country. Authorized Dealer banks must open dedicated accounts and convert these funds to Myanmar Kyat within one working day of receipt. This directive supersedes the 2021 framework and requires all foreign currency transactions to be processed through licensed banks under the Foreign Exchange Management Law.
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