The Central Bank of Myanmar announced on 10 June that the licences granted by the CBM to two exchange counters opened in Dawei, Taninthayi Region, were suspended for three months.
Shwe Wei Phone Myint Co Ltd and Shwe Nan Taw Wyn Co Ltd in Dawei, which have been granted the money changer licence by the CBM, did not follow the instructions and violated Section 22 of the Foreign Exchange Management Law. Thus, the CBM has announced that the money changer licences will be suspended for three months starting 9 June under Section 35.
It has also been informed that no purchases, sales, or exchanges of foreign currency are allowed at these two exchange counters.
Also on 19 September 2022, the money changer licence of Family Moe Paing Co Ltd was suspended for three months for not following the instructions issued by the CBM. — TWA/CT
CBM suspends licences of two exchange counters in Dawei for three months
- June 13, 2023
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