Scribd Logo
Upload

Welcome to Scribd!

  • CBM Notification 36-2022 - To Convert Only 65% of Export Proceeds - E+M

    Uploaded by

    Thapyay Ywet Nu Soe
    39 views2 pages
    The Central Bank of Myanmar published Notification No. 36/2022 to exercise its power under the Foreign Exchange Management Law. The notification updates a previous notification regarding foreign currency earned and remitted in the country. Specifically, it changes the requirement so that exporters are now only required to convert 65% of export earnings into the local currency, the Kyat, rather than the previously required full conversion. The new policy takes effect immediately as of the notification date of August 5, 2022.

    Original Description:

    Original Title

    CBM Notification 36-2022_To Convert Only 65% of Export Proceeds_E+M

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The Central Bank of Myanmar published Notification No. 36/2022 to exercise its power under the Foreign Exchange Management Law. The notification updates a previous notification regarding foreign currency earned and remitted in the country. Specifically, it changes the requirement so that exporters are now only required to convert 65% of export earnings into the local currency, the Kyat, rather than the previously required full conversion. The new policy takes effect immediately as of the notification date of August 5, 2022.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    39 views2 pages

    CBM Notification 36-2022 - To Convert Only 65% of Export Proceeds - E+M

    Uploaded by

    Thapyay Ywet Nu Soe
    The Central Bank of Myanmar published Notification No. 36/2022 to exercise its power under the Foreign Exchange Management Law. The notification updates a previous notification regarding foreign currency earned and remitted in the country. Specifically, it changes the requirement so that exporters are now only required to convert 65% of export earnings into the local currency, the Kyat, rather than the previously required full conversion. The new policy takes effect immediately as of the notification date of August 5, 2022.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 2

    Republic of the Union of Myanmar

    Central Bank of Myanmar


    Notification No. 36/2022
    5 August 2022
    1. The Central Bank of Myanmar (“CBM”) has published this Notification in exercising
    its power conferred under Section 49 sub-section (b) of the Foreign Exchange
    Management Law.
    2. The CBM published Notification No. 12/2022 on 03-04-2022 regarding the foreign
    currency earned by persons resident in the country, and foreign currency outward
    remittance.
    3. Now, pursuant to the directions in clause (2) of the above-mentioned Notification No.
    12/2022, only 65% of export earnings received by exporters are required to be
    converted into Kyats.
    4. This Notification shall be in force starting from this issue date.
    5. This Notification under the Foreign Exchange Management Law.
    Signed
    Than Nyein
    Chairman
    Reference No: MaBaBha-1/111 (order) (302/2022)
    Date: 5 August 2022.

    You might also like