Myanmar Quarterly Bulletin (Q3 July - September 2022)

9 November 2022

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Banking & Finance

FATF members to apply enhanced due diligence for transactions involving Myanmar

Foreign entities allowed to wholly own non-bank financial institutions

Corporate & Commercial

Repeal of “value-added” criteria for export of certain crops

Foreign Exchange Management

CBM clarifies rules regarding conversion and use of foreign currency for exporters and others

Myanmar revokes exemption for foreign-owned companies from currency conversion rule

Banks to suspend companies’ repayment of offshore loans and convert foreign currency held by companies with up to 35% foreign ownership

Awards & Rankings

Allen & Gledhill (Myanmar) maintains its top tier ranking for Financial and corporate in the latest edition of IFLR1000

The Allen & Gledhill network recognised in Who’s Who Legal’s Southeast Asia 2022