On 18 May 2026, the Central Bank of Myanmar (“CBM“) issued new regulations governing offshore remittance business (the “2026 Regulations“), formally repealing the previous regulations, CBM Notification No. 21/2019 dated 15 November 2019 (the “2019 Regulations“).
The 2026 Regulations significantly expand and refine the previous framework by introducing enhanced licensing requirements, strengthened AML/CFT compliance obligations, expanded reporting duties, and revised fee structures.
Key Differences from the Previous Framework:
Definition of Agents and Branch Offices: The 2019 Regulations defined agents and branch offices as entities appointed or established overseas. The 2026 Regulations fundamentally reverse this: representatives and branch offices are now defined as those appointed or established within Myanmar.
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