New Myanmar banks law won’t have “significant effect” on treasurers

Myanmar’s new Banks and Financial Institutions Law contains a controversial deposit clause, but corporate treasurers need not worry, a former Ministry of Finance chief claims
New Myanmar banks law won’t have “significant effect” on treasurers

Myanmar passed the new Banks and Financial Institutions Law at the end of January, which includes a requirement for lenders to hold 5% of customers’ deposits with the country’s central bank. The 5% deposit obligation has caused some controversy as many fear that banks will not be able to meet the 5% requirement. However, if companies already have business in Myanmar, the changes should not affect corporate operations.

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