BankHeadOffice.com         Bank Head Office Worldwide   ♦ Loan Calculators ♦ Mortgage Guides ♦ Banking FAQs ♦ Banking Institutions ♦ Central Banks Worldwide       Home  »  Central Banks Worldwide  »  Central Bank of Myanmar Central Bank of Myanmar The Central Bank of Myanmar is the central bank of Myanmar (formerly Burma). It was established under the Central Bank of Myanmar Law in 1990. The Central Bank of Myanmar Law (1990) empowers the Central Bank of Myanmar (CBM) to act as the sole issuer of domestic currency, to act as a banker to the Government, to act as an adviser to the Government in respect of economic matters, to inspect and supervise the financial institutions.   CBM also given responsibilities to manage the international reserves of the State, to perform the transactions resulting from the participation of the State in intergovernmental organizations and to undertake all the responsibilities in the name of the Government in dealing with the aforesaid organizations on behalf of the Government. In particular, the CBM is also empowered to set reserve requirements, maximum discount rate, maximum and minimum interest rates on loans and deposits, asset and liability ratios and minimum cash margins. Thus, the Law enables the CBM to less rely on quantitative credit control and more on indirect instruments of monetary control including the use of reserve requirement ratio and interest rate policy. Accordingly, the CBM has currently used such monetary policy instruments as reserve requirements, interest rate policy and limited open market operations in order to maintain adequate level of money supply for ensuring balance between economic expansion and general price level. Central Bank of Myanmar HQ Address: No.26(A), Settmu Road Yankin Township Yangon Myanmar Tel: +95 1 543 751 Fax: +95 1 543 743 Website: www.myanmar.com/finance Swift Code: CBMYMMMY Currency: Kyat Banking Hours: Monday - Friday 9:30 - 15:00   With an aim to closely supervise the domestic private banks, the Banking Supervisory Committee has been formed under the guidance of the Ministry of Finance and Revenue. The Banking Supervisory Committee has been closely reviewing the progress of banking operations and giving necessary guidance and support. Moreover, 10 banking scrutinizing teams have also been formed and assigned so as to scrutinize the operations and statistics of the private banks. Currently, 16 private banks are providing domestic banking services across the country through their network of over 180 branches.   List of banks governed by the Central Bank of Myanmar Government owned » Myanmar Economic Bank » Myanmar Foreign Trade Bank » Myanmar Investment and Commercial Bank Privately owned » Myanmar Citizens Bank Ltd » Yangon City Bank Ltd » Asian Yangon International Bank Ltd » Co-operative Bank Ltd » Yoma Bank Ltd » Myanmar Industrial Development Bank Ltd » Myanmar May Flower Bank » Myanmar Oriental Bank Ltd » Myanmar Livestock and Fisheries Development Bank Ltd » First Private Bank Ltd » Tun Foundation Bank Ltd » Sibin Tharyaryay Bank Ltd » Myawaddy Bank Ltd » Kanbawza Bank Ltd » Innwa Bank Ltd » Yadanabon Bank Ltd DISCLAIMER The content comes from Internet, reasonable efforts are made to maintain accuracy of information published. However, information could contain errors or inaccuracies and is presented without warranty and statutory means. No liability is assumed for errors or omissions. Viewers are advised to consult their banker or financial consultant for complete information and their professional advise. All trademarks, logos, brand names and copyrights are the property of their respective owners. © 2011 - 2022 BankHeadOffice.com ® All Rights Reserved