CBM directs importers to use banking transactions only

The Central Bank of Myanmar has instructed importers to use banking transactions only.
The importers holding licences are mandatory to use only banking transactions for the goods imported via two modes of transport (border and sea). They must use the banking system with foreign currency purchased from local banks or export earnings deposited in local bank accounts, the CBM directed.
Additionally, importers need to show a bank statement of Yuan while seeking a licence.
Some traders have concerns over the foreign currency liquidity of the domestic banks. The CBM has already assured that. — TWA/EM