According to the Ministry of Information, the Central Bank of Myanmar (CBM) has withdrawn the licences of 13 money changers because they disregarded the rules and guidelines in place.
The CBM declared on August 14 that, in accordance with the decision of its executive committee, 13 money changers had had their licences cancelled for failing to adhere to the rules and guidelines in place.
These businesses include Balance Co Ltd, West Line Co Ltd, Prime Residence Co Ltd, Great Father Great Sons General Trading Co Ltd, Gold Foil Co Ltd, Big Lion Gems Co Ltd, Global International Investment & Development Co Ltd, World Fortune International Finance Group Shares Co Ltd, Myat Nan Yone Services Co Ltd, LP Holding Co Ltd, Golden Myanmar Asia Crown Travels & Tours Co Ltd and Yangon KSA Travel & Tours Co Ltd.The CBM also announced the cancellation of the licences for 20 additional money changers on March 16 of this year.
They were Oake Khaung Travels & Tours Co., Ltd, Senjo Royal Myanmar Co., Ltd, Dawei Popular Co., Ltd, Zam Myo Co., Ltd, Phyo Thet (PT) Co., Ltd, Sky Bound Co., Ltd, Myanmar MCG Corporation Ltd, Htwe and Htwe Family Co., Ltd, Won Won Co., Ltd, United Eleven Co., Ltd, Tun Yama Co., Ltd, Myanmar Alinkar Hotel Group Co., Ltd, Cartel Co., Ltd, Super Phoenix Co., Ltd, Golden Falcon Shipping Co., Ltd, Fairness Travels & Tours Co., Ltd, Yadanar Bon Travels & Tours Co., Ltd, Myanmar National Airline Co., Ltd, Dewant Financial Loan Microfinance Co., Ltd and Treasure Su Co., Ltd.
