The Myanmar Central Bank is pre-empting foreign currency councils to strengthen foreign exchange rates
The Central Bank of Myanmar has filed the Online Trading Market, which includes importers and banks to develop the foreign currency market stable and stabilize the foreign exchange rate. As well as providing, the small foreign currency needed for travelers abroad is being sold in foreign currency exchange traders under the direction of the Central Bank of Myanmar.
Additionally, foreign currency exchange operators are inspecting foreign currency exchange operators to comply with the Foreign Exchange Act and the instructions issued by it. The Central Bank of
Myanmar, the Municipal Committee of Yangon, the Governing Body of Jehovah's Witnesses, and the Governing Body of Jehovah's Witnesses. A joint venture with law enforcement organizations inspected foreign currency exchange operators in Yangon on 6-3-2024 and (8-3-2024) The following foreign currency purchase and exchange license (4) are found to have not complied with the provisions of the Foreign Exchange Management Act:
(a) Thura Nay Tun (Fame Money Changer)
(b) Lead Star Money Changer
(c) Steber Group Money Changer
(d) Asia Shwe Thee Money Changer
4. Four individuals will be sentenced to a three-month suspension of the license in accordance with the provisions of Article 35 of the Foreign Exchange Management Act.
It is reported that the Central Bank of Myanmar will conduct such pre-emptive inspections and maintain strictly in accordance with the provisions of the law to strengthen the foreign currency market and foreign exchange rate.
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