MT News
The Central Bank of Myanmar announced on 17 September that it had suspended the license of the Family Paing Moe Money Changer for three months and shut down its five money exchange counters due to their failure to abide by the requirements of the CBM.
The CBM announced that the license of the Family Moe Paing Co., Ltd (126 Money Changer), which received the money changer license under the CBM-FEMD-122/2013, was suspended for three months as of 19th September, 2022 due to violation of the instructions of the CBM, under the section 22 and under section 35 of the Foreign Currency Management Law.
Therefore, foreign currency trading cannot be conducted at its five money exchange counters at No. 139, Ground Floor, 34th Street in Kyauktada Township, at No. 126, Ground Floor in Saya San (South) Ward in Bahan Township, at No. 108, Ground Floor in Saya San (South) Ward in Bahan Township, at Nos. 25/27 New University Avenue Road in Bahan Township and at No 312(b) on east Shwe Gon Daing Road in Ngahtutgyi (South) wards, according to the announcement of the CBM.
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