CBM charges non-bank financial institutions for relocating, opening and closing branch offices

The Central Bank of Myanmar will charge non-bank financial institutions (NBFI) for relocating the marketing office, opening branches and closing.
In exercising the power conferred by Section 184 of the Financial Institutions Law, relocating the marketing office of the NBFI will be charged, according to the CBM’s directive.
For the relocation of offices including headquarters or opening branches whether it is in the same township or different townships or closure of the business, the NBFI has to deposit K200,000 to the CBM.
They must present the receipt of the K200,000 payment in line with the directive (9/2021), when they seek permits for relocation, opening new offices or winding up. — TWA/GNLM