SCM Legal | Myanmar | News and Resource

NEWS & RESOURCES

Sep 6

Fuel Oil and Palm Oil imports to have access to additional foreign currency

The Central Bank of Myanmar issued a letter on 2 September advising that foreign currency to import fuel oil and palm oil can be sourced...

Sep 6

Overseas Myanmar Workers to remit home 25% of foreign earnings

Overseas Myanmar citizens required to remit 25% of income back home.

Aug 30

Myanmar electricity tariff to increase

Electricity tariff to almost triple for some businesses.

Aug 30

Gold targeted with latest Myanmar tax law

Tax hike for gold transactions in Myanmar making it more expensive to buy and sell gold.

Aug 15

Central Bank of Myanmar to increase interest rates

The Central Bank policy interest rate is to increase from 7% to 9% from 1 September 2024. On 14 August 2024, the Central Bank of Myanmar...

Aug 13

MOC issues a reminder to register online businesses

Reminder that online business in Myanmar need to register.

Aug 12

Myanmar's minimum wage increase - sort of

Myanmar's minimum wage increases in August 2024

Aug 8

CBM allows exporters to keep more foreign currency

On August 7, the Central Bank of Myanmar (CBM) issued notification 37/2024 with measures aimed at boosting the foreign exchange supplies...

Feb 12

Navigating Myanmar's New Agent Banking Directive: What You Need to Know

Introducing agent banking allows any corner shop to be an extension of a bank branch.

Jul 14, 2023

Central Bank of Myanmar moves to increase foreign exchange liquidity

The Central Bank of Myanmar allows exporters to exchange 50% of earnings at market rates.

Jun 27, 2023

Latest on Myanmar foreign remittance controls

CBM to review all foreign currency purchases.

Jul 16, 2022

Myanmar opens up the non-banking financial sector to 100% foreign participation

Foreign investors to be able to operate finance and leasing businesses in Myanmar.

Apr 14, 2022

Myanmar's New Foreign Currency Restrictions

A detailed analysis of Myanmar's new foreign currency restrictions.

Apr 7, 2022

Myanmar card spending limits cut in half

On 7 April 2022 the Central Bank of Myanmar (CBM) issued a letter effectively cutting spending limits on Myanmar issued credit cards and...

Apr 7, 2022

Import licences need to be in order!

Make sure to have licences for imports prior to arrival in Myanmar ports

Apr 2, 2022

Updates to cash withdrawal limits

Updated cash withdrawal limits keep general limits unchanged, but provide clarity on some of the exceptions.

Feb 7, 2022

Temporary relief for unlicensed imports

Customs Department to provide a 1 month grace period for imports which have been added to the licenced import list.

Jan 14, 2022

Changes to maternity benefits under Myanmar social security

Social security maternity benefits have changed when being reimbursed for using private medical facilities in Myanmar.

Dec 27, 2021

Insolvency in Myanmar, trends and developments

Commentary on Myanmar's insolvency regime, in the context of current events in the country.

Sep 15, 2021

Dropping exchange rate controls

Restrictions requiring banks and money changers to use the Central Bank of Myanmar's reference rate for currency exchange are dropped.

Jul 29, 2021

Central Bank exempts COVID-19 related expenses from cash withdrawal limits

CBM exempts cash withdrawal limits for Covid-19 expenses.

Jul 1, 2021

MIC updates operating procedures for state and regional investment committees

Investments of below USD5 million are approved by state and regional investment committes in Myanmar. A notification of the Myanmar Investme

Jun 21, 2021

Central Bank of Myanmar continues to tackle liquidity issues

The Central Bank of Myanmar has taken further steps to limit the ability of depositors to withdraw cash.

Jun 7, 2021

Myanmar adds soap and toothpaste to import ban

Ban on importing soap, soap powder and toothpaste over Myanmar's land border