As of 5 December 2023, the Shwedagon Pagoda has received donations totalling K99.604 billion and US$16.18 million, deposited in Myanma Economic Banks and Myanma Foreign Trade Bank. The cheque system is employed to cover the pagoda’s expenses instead of withdrawing cash, as reported by U Boe Thin, a Pagoda’s Board of Trustees member.
The Shwedagon Pagoda has received donations in foreign currency and subsequently opened and deposited them in the Myanma Foreign Trade Bank (MFTB). These foreign currency donations are earmarked for projects that require foreign funds.
U Boe Thin elaborated on the financial procedures, stating, “All donations in Shwedagon Pagoda, whether in foreign or Myanmar currency, are currently held in the accounts of Myanma Economic Banks and MFTB. The donations are divided into Myanmar Economic Bank’s Savings Bank No 1, No 2, and No 4, as well as MFTB. Withdrawals require the signatures of six authorized board members of trustees, with three signatures needed for each transaction. When daily donations are collected, we categorize and count them when the office opens at 9 am. At around 11:30 in the morning, we go to the banks and deposit them according to the relevant categories. We never keep the donated money in hand; we deposit it in the banks daily.”
As of 5 December 2023, the cumulative donations for the Shwedagon Pagoda amount to K99.604 billion and US$16.18 million. — ASH/TKO
