
New Myanmar banks law won’t have “significant effect” on treasurers
Myanmar’s new Banks and Financial Institutions Law contains a controversial deposit clause, but corporate treasurers need not worry, a former Ministry of Finance chief claims

Myanmar passed the new Banks and Financial Institutions Law at the end of January, which includes a requirement for lenders to hold 5% of customers’ deposits with the country’s central bank. The 5% deposit obligation has caused some controversy as many fear that banks will not be able to meet the 5% requirement. However, if companies already have business in Myanmar, the changes should not affect corporate operations.
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