State Administration Council announces No Demonetization

Republic of the Union of Myanmar State Administration Council Announcement of Information 7″‘ Waning of Pyatho, 1382 ME

(3 February, 2021)

  1. It was known rumours and fake news spread out that currency notes worth Ks- 5,000 and Ks-10,000 officially published by the State will be demonetized.
  2. While placing emphasis on stabilizing the monetary system regarding the above- mentioned issue, the Central Bank of Myanmar issued an information dated 3-2- 2021 that banks are firmly giving services to customers in accord with the rules;, that the people can trustfully continue use of monetary and banking services without worries‘, and the directive has been given to banks to operate banking services as usual. As such, the spreading of news is just rootless information.
  3. As Sub-section (e) of Section 36 of the Constitution (2008) of the Republic of the Union of Myanmar stipulates: “The Union shall not demonetize the currency legally in circulation, information was announced that the people should not believe the rumours spreading out among them and they can continue trustful use of currency notes worth Ks-5,000 and Ks-10,000.

State Administration Council

 

Source: Myanmar Army News

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, “Puma Energy”, “MOGE”, “yangon new town”,”MECTEL”, “hydropower”, etc.

 Opportunities from COVID19

.

Looking for foreign investors to invest in your business in Myanmar