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Ban on Burmese Gemstones Lifted, Task Force Visits Myanmar- AGTA

October 24, 2016 – Dallas, TX — Responding to the concerns of its members regarding U.S. sanctions and perceptions of the Myanmar Gem and Jade sectors, the American Gem Trade Association (AGTA) developed a coalition of the U.S. Jewelry Industry to make a scoping mission to Myanmar. This mission was similar to past AGTA efforts […]

Myanmar moved off money laundering watchlist

Inter-governmental body the Financial Action Task Force (FATF) has removed Myanmar from its list of states deemed weak in combating money laundering and terrorist financing, which experts think should make international banks more comfortable doing business with the country. FATF, which counts China, the United States and India as members, released a public statement on […]

Financial system to struggle despite sanctions relief

Amendment to US sanctions against Myanmar aimed at supporting economic growth still leave an array of barriers to trade between the two countries. Effective yesterday, the United States removed three state-owned banks from its blacklist of Specially Designated Nationals (SDNs), and added two military-owned lenders to a general licence that allows financial transactions with those […]

US unlikely to lift sanctions in 2016

Despite boasting a new democratically elected government that enjoys enormous popular support, Myanmar looks unlikely to shed the US sanctions that have restricted the country for decades, according to experts familiar with the sanctions program. Various individuals and organisations – international and domestic – have called for the US to lift sanctions against Myanmar, following […]