CBM launches special programme with 3 banks to sell cash to overseas travellers in 4 cities

forex yangon airport 3
AYA Bank money changer within Yangon Airport terminal.

Petty cash for foreign-going nationals are being sold in Nay Pyi Taw, Yangon, Mandalay and Taunggyi, including three bank counters at Yangon airport, under a special programme in cooperation with three banks, according to the Central Bank of Myanmar.

To facilitate cash flow, the CBM, in cooperation with KBZ, AYA Bank PCL and UAB, is selling foreign currency as petty cash in these four cities to those going abroad for work, medical treatment, education, pilgrimage and to attend meetings at the invitation of foreign governments and associations.

KBZ’s outlets under the special programme are Yangon airport (arrival), 9-mile and U Wisara road (2) branches in Yangon, IDB (22) and branch (4) in Mandalay, branch (5) in Nay Pyi Taw and branch (1) in Taunggyi. The outlets of AYA Bank PCL are Parami branch, Kyauktada branch, Alone branch, Mayangone branch and Yangon airport in Yangon, branch (22) in 30th street in Mandalay, and Nay Pyi Taw branch while those of UAB Bank are the branches in Yangon airport, Sanchaung, Shwegonedine, Theinbyu in Yangon, 84th street branch, Saing Tan branch and Diamond branch in Mandalay and Nay Pyi Taw branch.

To enable the easy purchase of foreign-going nationals and to control illegal activities of speculators, US$ 300- 500 (or equivalent in other foreign currencies) has been sold as petty cash per person at Yangon airport or at money changers of AD-licensed banks, since 31 May 2023 for overseas workers, patients and students, and since August 18 for pilgrims and meeting participants.

Money changer counters of AD-licensed banks normally deal in 7 foreign currencies – US Dollar, Euro, Singapore Dollar, Thai Baht, Malaysian Ringgit, Chinese Yuan and Japanese Yen- which are allowed by the CBM.

Bank counters where foreign currency is available include CB Bank PCL, Myanmar Oriental Bank Ltd, KBZ, Innwa Bank Ltd, Asia Green Development Bank Ltd, AYA Bank PCL. UAB Bank Ltd, Myanmar Apex Bank, Myanmar Citizens Bank, Global Treasure Bank Ltd, Yoma Bank Ltd and Ayeyarwaddy Farmers Development Bank, and details can be found on their websites and Facebook pages, the CBM said.

MT/ZN

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