RMB accounts can be opened at CB Bank for Myanmar-China border traders

CB Bank announced on April 27 that it could open yuan accounts at CB Bank for Myanmar-China border traders. Foreign Currency (Chinese Yuan) Account Company can be opened at CB Bank for business owners. With the Chin Border Trade service, you can send money directly to Yuan through any account in China and transfer money directly from China to your CB Bank Myanmar Kyats account. Company Account-CNH Account will be opened only with Muse Branch ID.

CNH Account can be opened at Muse Branch by check By withdrawing the book and at other CB Bank open branches. You can get a check book at UFC Branch in Yangon, 19th Street Branch in Mandalay and Ottara Thiri Branch in Nay Pyi Taw. The exchange rate will not be fixed on the yuan / kyat market in Muse every day (bank opening day) and Chinese banks will be asked for the yuan / kyat three times a day to avoid any harm to Myanmar businesses.

CB Bank’s yuan / kyat exchange rate will be set against the market price. You can contact CB Bank Contact Center (+951) 2317770 to open a Foreign Currency (Chinese Yuan) account at CB Bank. Company for customers who open Yuan Account Certificate Company Extract, Application Letter BOD Resolution & Authorized Authorized Person List of (officers with Extract); Export & amp; Import License and IDCard Copy of Authorized Persons are required.

Source: Daily Eleven

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