CBM demands honesty over foreign cash
Published on Saturday, 27 December 2014 22:28
No one tells the Central Bank of Myanmar (CBM) about their foreign bank accounts, Maw Than, a board member from the bank, told a seminar studying the Foreign Exchange Management Law on December 25.
"Myanmar citizens have a duty to regularly report the opening of both their foreign bank accounts and Myanmar accounts in dollars to the CBM. If they love their country they should report accounts to the CBM. Many people have foreign bank accounts and they have a duty to report their shopping and healthcare overseas to the CBM. But no one does it. This is because the bylaws came out too soon. For the stability of the country's economy, people need to have a country-loving spirit and to change their mindset," said Maw Than.
Under section 14 of the Foreign Exchange Management Law, people should get a permit from the CBM when they open foreign accounts and send their monthly bank statements to the CBM.
http://www.information.myanmaronlinecentre.com/cbm-demands-honesty-over-foreign-cash/
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