Central Bank of Myanmar issues new regulation on foreign remittance business licensing

29 June 2026

On 28 April 2026, the Central Bank of Myanmar (“CBM”) issued Notification No. 18/2026 introducing a new Regulation on the Licensing of Foreign Remittance Business (“Regulation”) under the Foreign Exchange Management Law. 

The Regulation applies to companies incorporated in Myanmar that wish to carry out foreign remittance activities. Applicants are required to submit specified incorporation documents, business plans, and information on beneficial owners, management, shareholders, and compliance officers, including certificates of absence of criminal records. 

Where foreign partners or representatives are involved, applicants must provide evidence that such entities hold valid remittance licences in their respective jurisdictions. Licensees are required to maintain a security deposit in an escrow account at an authorised dealer bank and a separate revolving fund account for remittance transactions. Transaction records must be maintained for five years and made available to regulators upon request. 

The Regulation imposes ongoing operational and compliance obligations, including reporting requirements to the CBM, customer due diligence, sanctions screening, and anti-money laundering and counter-terrorism measures. 

It replaces CBM Notification No. 21/2019 and sets out the framework for licensing, supervision, and potential suspension or withdrawal of licences.