28 March 2024
The Central Bank of Myanmar revoked the licences of six money changers and suspended those of four money changers for six months on 26 March as they failed to comply with the rules and directives issued by the CBM.
Licences of Best Yuan Money Changer Company, Currency Hub Company, Globextra Company, My Gold Myanmar Company, Sym Chem Company and Win Yadana Gems & Jewellery Company were cancelled by CDM starting from 26 March 2024 for non-compliance.
Similarly, CBM suspended Farmer Phoyarzar Auto Mobile Services Company, PAAMAA Company, Source Strategy Consultant & Development Company and Wu Fu Company for up to six months from 26 March 2024.
A combined team led by the Monitoring and Steering Committee on Gold and Currency Market, comprising competent authorities from the CBM, Yangon City Development Committee, the Department of General Administration and law enforcement agencies, has been conducting the surprise inspections.
