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The Central Bank of Myanmar released banks will be allowed to open new accounts from May 3,2021 with no restrictions on cash withdrawals

Banks will be allowed to open new accounts and deposit cash from May 3, and the central bank announced on April 27 that it would allow unrestricted cash withdrawals from those accounts, according to a broadcast on Myanmar Radio and Television. 

From May 3, the public will be allowed to open new bank accounts and deposit cash if they wish to deposit their cash in banks for security purposes.

In addition, those who have opened bank accounts before May 3 will continue to be allowed to withdraw cash in accordance with the Central Bank of Myanmar’s original withdrawal restrictions. According to the press release, arrangements are being made to ease these withdrawal restrictions.

Source: Daily Eleven

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