Republic
of the Union of Myanmar
1. The Central Bank of Myanmar exercises the authority in sub-section (b) of Section 49 of the Foreign Exchange Management Law to issue this notification.
2.
According to Section 38-b and Section 42-a of the Foreign Exchange Management
Law and paragraph 35 of the Foreign Exchange Management Regulation, exporters
shall not fail to deposit all their export incomes in foreign exchange, during
the stipulated period, in their bank accounts in the State.
3.
Exporters who have an account with an AD-licensed bank can use the export
incomes for themselves and sell it to non-AD licensed banks or AD-licensed
banks before 30 days of the transfers to their accounts.
4.
Exporters must sell their remaining export incomes in foreign exchange of their
bank accounts to the authorized AD licensed bank at the market prices within 30
days of the transfers without fail.
5.
The non-AD banks such as people and organizations must use the export earnings
for themselves or sell to AD licensed banks within 30 days and they must sell the
remaining amount only to AD licensed banks before 30 days at the market prices
without fail. They must not resell to other person and organizations.
6.
In conducting the above mentioned procedures, the total period of sale to the
AD licensed bank shall not exceed 30 days for the sale to AD licensed bank
including resale via those who receive export incomes from the time of
receiving the export earnings.
7.
The notification No 33/2021 issued by CMB on 3 September 2021 was overlapped by
this notification.
8.
This notification shall come into effect from the date of issue.
Than
Nyein
Governor
#TheGlobalNewLightofMyanmar
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