Working committee formed to establish Assets Management Company

To strengthen the banking system of the Central Bank of Myanmar (CBM) and adapt to international standards, a working committee to establish an Assets Management Company was formed under Notification 122/2022.
The working committee was formed to set up an Assets Management Company which would adapt to the country’s situation in line with international standards. It will carry out a feasibility study and work procedures depending on the current situation.
Furthermore, laws, rules and regulations to establish that company must be reviewed and submitted according to the existing laws. If there is an amendment needed to be made, it has to be reported. Regarding the rights and duties of the Assets Management Company, observing and reporting must be undertaken.
Reports on the activities of the working committee have to be submitted to the CBM and the Ministry of Planning and Finance every three months. The working committee’s expenses will be used from the CBM’s fund.
The deputy governor of the CBM serves as chair of the committee and the deputy minister of the Ministry of Planning and Finance acts as a co-chair. The committee includes a secretary, a joint secretary and 14 members. – TWA/GNLM