Central Bank revokes money changer licenses to 20 companies for bleaching rules

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Hsu/Myo Gyi (NP News) - Mar 17

The #Central_Bank_of_Myanmar (CBM) released an announcement today (March 17) revoking the money changer licenses of 20 companies for failing to abide by the orders and directives issued by the CBM.

In the list, the Myanmar National Airlines (MNA) is also included.

The notification was made as the outcome of Board of Directors meeting.

According to CBM’s announcement, these 20 companies involve Myanmar National Airlines Co., Ltd၊ Oake Khaung Travels & Tours Co., Ltd၊ Senjo Royal Myanmar Co., Ltd၊ Dawei Popular Co., Ltd၊ Zam Myo Co., Ltd၊ Phyo Thet (PT) Co., Ltd၊ Sky Bound Co., Ltd၊ Myanmar MCG Corporation Ltd၊ Htwe and Htwe Family Co., Ltd၊ Won Won Co., Ltd၊ United Eleven Co., Ltd၊ Tun Yama Co., Ltd၊ Myanmar Alinkar Hotel Group Co., Ltd၊ Cartel Co., Ltd၊ Super Phoneix Co., Ltd၊ Golden Falcon Shipping Co., Ltd၊ Fairness Travels & Tours Co., Ltd၊ Yadanar Bon Travels & Tours Co., Ltd၊ Dewant Financial Loan Microfinance Co., Ltd and Treasure Su Co., Ltd.

The CBM has also revoked the Money Changer License of Imperial Myanmar Finance Company on 23rd January.

Official exchange rate is 2100 kyat per USD according to the CBM. However, the market exchange rate has reached above 2800 kyat per USD.

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