CBM Governor meets Thai Ambassador

 

Central Bank of Myanmar Governor Dr Khin Naing Oo received Thai Ambassador to Myanmar Mr Tor Saralamba at the meeting hall of the Central Bank of Myanmar in Nay Pyi Taw yesterday.

During the meeting, the Thai ambassador discussed the repatriation of dividends and loan repayments by Thai businesspeople to their home country, noting that the funds would subsequently return to Myanmar to support further investment. He also said that Thai banks with branches in Myanmar intended to provide loans to Thai and Myanmar companies to support the country’s long-term economic development. In addition, he discussed arrangements for Myanmar workers employed in Thailand to send remittances back home through official channels.

The Central Bank of Myanmar governor explained that the Central Bank was providing support to facilitate the inflow of investment and ensure smooth financial transfers and payments related to such investments. She said that procedures were being developed for the repatriation of dividends and interest payments on loans. She also noted that the Central Bank regularly reviewed foreign currency reserve requirements in line with the circumstances of individual banks and was making adjustments to ease these requirements where appropriate.

Regarding worker remittances from Myanmar nationals employed overseas, she said that measures were being taken to ensure that the arrangements did not encourage unofficial money transfers.Deputy governors and officials from the relevant departments of the Central Bank of Myanmar also attended the meeting.

MNA/MKKS

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