On 25 December 2023, the Central Bank of Myanmar (“CBM”) issued Notification No. 27/2023 to reduce the time frame for the inbound remittance of export earnings. Previously, under Notification 27/2022 dated 6 May 2022, the CBM required that export earnings from goods exported to Asian countries be deposited into exporters’ bank accounts within 45 days, […]

The State Administration Council passed Law No. 57/2021 on 6 October 2021 (“Law”) amending certain sections of the Foreign Exchange Management Law 2012 (“FEML”). The Law amends Section 41 of the FEML which previously restricted ‘foreign exchange licensees’ from violating any rules, regulations, procedures etc. issued under the FEML. The Law has removed the term […]