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Myanmar Central Bank announced a restricted measure in a bid to prevent financial flow to the hands of local resistance forces

17 September 2022

As the military junta is facing a humiliating defeat across the country in battles with ethnic armed groups and other various resistance forces, the junta’s Central Bank came to put restricted measures preventing the financial flows to local resistance forces in a bid to rescue the military junta.

The Central Bank of Myanmar said all accounts registered for mobile banking that failed to register privacy details for level 2 security would be abolished.

Details of personal information of sender and receiver must be registered in the electronic system of the Department of Immigration, and all mobile banking will be checked in the SIM registration database, which will be monitored by the Ministry of Immigration and Population monitors.

The Central Bank of Myanmar urges all mobile banking users to go and approach their respective agents or local bank branches to provide all personal information to meet the level 2 security clearance requirement.

The move is viewed as a desperate attempt to prevent the financial flows into the hands of various resistance forces and ethnic armed groups.

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