To strengthen the compliance with the report from the Financial Action Task Force (“FATF”), Ministry of Commerce (“MOC”) has issued its bulletin no. 10/2022 on 31st October 2022 required that all border trade transactions must be settled only through a licensed bank (“Bulletin 10”). Bulletin 10 also mentions that the importers are allowed to acquire […]

As Financial Action Task Force (“FATF”) reported, one of the outcomes of the FATF 20-21 October 2022 Plenary, was that Myanmar has been added to the list of “jurisdictions subject to a call for action”.   FATF is an ‘inter-governmental body’ that ‘works to generate the necessary political will to bring about national legislative and regulatory […]