HomeWorldMyanmar's central bank blacklists the following 158 companies who have violated regulations

Myanmar’s central bank blacklists the following 158 companies who have violated regulations

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The Central Bank of Myanmar (CBM), has added 158 businesses to its blacklist because they failed to deposit export earnings in accounts at domestic banks within the required periods.

According to a statement by the central bank on Monday, this decision was reached after numerous efforts, including issuing notices and revoking importer and exporter registrations.
The statement stated that the CBM had added the members of the boards of directors of export companies to a blacklist preventing them from repatriating earnings from goods exported in 2016/2017 and 2018.
All exporters from Myanmar must deposit their export proceeds in bank accounts within the specified time period under the country’s foreign currency management regulation.

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