The Central Bank of Myanmar (CBM) governor said on Monday in the recent meeting that it is necessary to make solid efforts to provide the local manufacturing industries including MSMEs with financial support.
The governor emphasized that the CBM urged the banks to follow the rules and regulations to ensure a solid banking system, saying the relevant departments of CBM keep watching the banks whether they comply with the instructions. The CBM also considers the internal control and risk management regarding the risk-taking level of the banks, the macro-economy of the country, external impacts and credit risk.
There should be economic growth and it should provide the public with true information. It should also carry out the work procedures properly and follow the rules and regulations.
Moreover, the governor urged all to make business strategy depending on the market condition, follow the rules for foreign currency, focus on monitoring anti-money laundering and counter-terrorism financing and comply with the rules and regulations of the CBM.
Source: The Global New Light of Myanmar