Customers Flock to Withdraw Cash From Myanmar Military-Owned Banks
People line up at a branch of Myawaddy Bank in Yangon on Feb. 16. / The Irrawaddy
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By The Irrawaddy 16 February 2021
YANGON A large number of people rushed to the Myanmar military-owned Myawaddy Bank in Yangon to withdraw cash on Tuesday morning after anti-coup protesters called for a boycott of military-related businesses.
On Monday, military-owned banks in Yangon opened for only half a day after hundreds of people thronged to withdraw money from their bank accounts as the civil disobedience movement (CDM) gathered strength across the country.
A bank employee at a Yangon branch of Myawaddy Bank on WarTan Street informed customers queuing for services on Tuesday that the bank would service 200 customers a day and that withdrawals were limited to 5 million kyats (about US$3,550) per person. He said customers who were not among the first 200 could return to queue at 8:30 a.m. Wednesday morning.
The Amata Resort Hotel & Spa in Yangon Yangon-based Amata Holding, one of the largest resort hotel operators in Myanmar, on December 28 received approval from the Yangon Stock Exchange for a listing on the bourse s main board, the company said in a statement on the following day. Amata Holding, not to be confused with Thailand’s industrial estates developer Amata Corporation which is also active in Myanmar, will become the seventh company listed on the exchange, with the assigned stock code of AMATA. The exact listing date has still to be determined, but it will be announced in a timely.
The Amata Resort Hotel & Spa in Yangon