Myanmar Junta Suspends 212 Central Bank Staff on Strike
Civil servants protest in Naypyitaw. / The Irrawaddy
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By The Irrawaddy 17 March 2021
More than 200 employees from the Central Bank of Myanmar have been suspended for taking part in the civil disobedience movement (CDM) against the military regime.
Last Friday’s order suspended 212 staff, ranging from assistant directors to cleaners, for failing to perform their duties.
Legal action against civil servants on strike comes as the military government has been paralyzed by the CDM for over a month. The junta has stepped up detentions, dismissals or suspensions and evictions of civil servants from government housing.
Myanmar Regime Seizes Bank Accounts of Soros Open Society Foundation
Myanmar Regime Seizes Bank Accounts of Soros Open Society Foundation
Myanmar State Counselor Daw Aung San Suu Kyi holds talks with George Soros, founder and chairman of the Open Society Foundation, in New York in September 2016. / Ministry of Information
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By The Irrawaddy 16 March 2021
The military regime has seized control of the bank accounts of billionaire George Soros’ Open Society Foundation (OSF) in Myanmar and announced that it will take legal action against the foundation, which is accused of violating restrictions on the activities of such organizations.
On Monday, military-controlled MRTV announced that the military had issued arrest warrants for 11 staff members of OSF Myanmar, including its head and deputy head, on suspicion of giving financial support to the civil disobedience movement against the military junta.
Myanmar Central Bank Limits ATM Transactions, Account Withdrawals
25 February 2021
Myanmar Central Bank Limits ATM Transactions, Account Withdrawals
A Yangon resident withdraws cash from an ATM at a CB Bank branch in April 2019. / The Irrawaddy
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By The Irrawaddy 1 March 2021
YANGON The Central Bank of Myanmar (CBM) has lowered its limits on cash withdrawals from ATMs and bank accounts after a military-owned bank suspended operations last week as it faced a run on deposits.
Claiming the move is aimed at encouraging digital payments, the CBM’s directive states that starting Monday, individuals can withdraw a maximum of 500,000 kyats (about US$354) from ATMs per day. Until Feb. 28, ATM users were allowed to withdraw up to 1 million kyats per day.