Regulatory Alerts2021-01-26
Added · Updated
Central Bank of Myanmar Directive on Non-Bank Financial Institutions
The Central Bank of Myanmar issued this directive to establish comprehensive regulatory requirements for the establishment, operations, and business conduct of non-bank financial institutions. It mandates that finance companies, leasing, and factoring entities obtain a CBM registration certificate by meeting capital, governance, and fit-and-proper criteria while explicitly prohibiting deposit-taking activities. The framework further outlines ongoing compliance obligations, including financial reporting, on-site examinations, prior approval for major corporate changes, and administrative penalties for violations.
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