RUMOURS suggesting that the amount of cash withdrawals from bank deposits is being limited and
that some private banks are providing advance salaries to their employees have recently circulated on social media and internet websites. These claims are fake news and false information.
There is no limit imposed on the amount of cash withdrawals from bank deposits. Thanks to the Core
Banking System, banking services are now available at any branch of a bank throughout the nation, as the
deposit account data of customers are readily and conveniently accessible at each branch. Moreover, digital banking services, as well as payments, can be easily made, and all banking services are being provided as usual. Customers of the banks continue to enjoy regular banking services.
Therefore, it is announced that the Central Bank of Myanmar (CBM) is now working in cooperation with
law enforcement organizations to identify those who spread fake news intending to damage the public interests and to impose deterrence punishment against them.
Source: The Global New Light of Myanmar