Central Bank of Myanmar
Notification No 48/2021
11th Waxing of Nadaw 1383 ME
14 December 2021
- The Central Bank of Myanmar has issued this proclamation exercising its authority under Sections 17 and 22 of the Foreign Exchange Management Law.
- To increase Sino-Myanmar trade and facilitate the flow of goods, Yuan/Kyat direct payments were allowed on the Sino-Myanmar border to facilitate the two countries’ payment and clearing systems and to increase domestic currency in line with the objectives of ASEAN Financial Integration.
- Designated banks have been allowed to open yuan accounts of importers and exporters for cross-border trade.
- Therefore, the designated banks are required to adhere to the Guidelines for the Direct Use of Yuan/Kyat in Sino-Myanmar border trade.
- This notice shall take effect from the date of issue.
Than Nyein
Governor
Central Bank of Myanmar