Increased Privileges for Foreigners with Myanmar Bank Accounts
Foreigners in Myanmar will now be allowed to withdraw foreign currency from their banking accounts every business day, reports The Irawaddy. Foreigners were previously limited to twice-a-week withdrawals, with a weekly limit of $10,000.
Burma’s Central Bank has separate rules for foreign account owners, divided between those working in the country and those investing. For both types of accounts, the bank only accepts withdrawals and deposits in foreign currency.
Foreigners were previously only allowed to open accounts at three state-owned banks, “but since last June, they have been able to open accounts at 15 private banks.” Foreigners are still prohibited from opening savings accounts, due to restrictions against receiving interest on dividends.
Land Lawyer Thailand
Buying land or property in Thailand is attractive for investment or business reasons, as well as residence or retirement purposes.
Related articles: Myanmar Welcomes Credit Card Giant Visa
Related blog posts: Myanmar in the News
Journalists Criticize New Media Law
Journalists are speaking out against a newly established “supervisory board” that would replace the draconian censorship board, which was recently dissolved. The new media law would create new forms of censorship, The Irawaddy reports. It would allow the government to cancel publishing licenses, control media output and punish journalists that publish controversial material.
Journalists say the new law, called the “Printing and Publishing Bill, would “ban material that violates the country’s Constitution and incites unrest, among other things,” and are calling on the government for revocation.
The journalists released a statement saying they would support a new media law if it was drafted with media consultation, and as long as it benefited the public and protected freedoms.
Related texts: Constitution of Myanmar
Related articles: Myanmar Installs New Censorship Board
Myanmar Dissolves Censorship Board
Myanmar Constitution Reform “Far Way Off”
Related blog posts: The End of Censorship in Burma? Not Just Yet
{ 0 comments… add one now }