17 October 2022
The Central Bank of Myanmar issued a notification that legal action will be taken against the facebook pages which are illegally buying and selling foreign currency without any official licences under section 42 in the Foreign Exchange Management Law.
The CBM found that Perfect Money and B to P money changers has been buying and selling the foreign currencies on their facebook pages without any official licences. As these facebook pages violated section 38, legal action will be taken against them under section 42 in the Foreign Exchange Management Law.
In addition, as other facebook pages such as Black Market Rate, USD Exchange Rate, Gold and Forex Trading, Gold and Dollar Market, Dollar Buyer Seller, Dollar Palace၊ Dollar direct buying and selling, Euro Dollar Trading, Dollar direct buying and selling USD Exchage, Myanma gold and global gold, etc. violated section 38 in the Foreign Exchange Management Law, the CBM will take a legal action against them under section 42 in the Foreign Exchange Management Law, the CBM announced.
