Regulatory Alerts2012-08-08
Added · Updated
Standards for Newly Issued Cards in Myanmar
The Central Bank of Myanmar establishes comprehensive regulations for electronic card operations, defining debit, credit, ATM, and prepaid cards and mandating that all issuers obtain prior approval to conduct business. Financial institutions must submit detailed applications including business plans, risk management strategies, and credit assessment criteria, while non-bank issuers must route requests through the Myanmar Payment Union. The directive requires strict adherence to internal controls, regular reporting, consumer protection measures, and data confidentiality, with violations subject to administrative penalties under relevant financial laws.
More like this from CBM
We email you every new CBM publication the day it's published.