Private banks add govt contribution of K30 per dollar in salary remittances by Myanmar citizens abroad

The government of Myanmar provides K30 per dollar (an equivalent amount of foreign currency) in the salary transferred by Myanmar citizens abroad and the authorized private banks add this government’s contribution when their family members withdraw cash.
The authorized banks for foreign exchange (KBZ Bank, CB Bank and UAB Bank) released a statement on their social media platforms regarding the additional support fund of the government.
The Central Bank of Myanmar issued the notification on 28 October 2022 about this additional contribution by the government for salary remittances of Myanmar citizens abroad from 1 November.
Only the remittances of foreign salary through the authorized banks are entitled to this addition and the family member can enjoy this benefit once they withdraw the money. This move is to support and encourage Myanmar workers abroad who are earning foreign currencies for the State. — TWA/GNLM