Notification No 35/2021

Ministry of Information/ Naypyitaw / October 04, 2021

Republic of the Union of Myanmar

Central Bank of Myanmar

Notification No 35/2021

Nay Pyi Taw

13th Waning of Tawthalin 1383 ME

3 October 2021

1. The Central Bank of Myanmar exercises the authority in sub-section (b) of Section 49 of the Foreign Exchange Management Law to issue this notification.

2. According to Section 38-b and Section 42-a of the Foreign Exchange Management Law and paragraph 35 of the Foreign Exchange Management Regulation, exporters shall not fail to deposit all their export incomes in foreign exchange, during the stipulated period, in their bank accounts in the State.

3. Exporters who have an account with an AD-licensed bank can use the export incomes for themselves and sell it to non-AD licensed banks or AD-licensed banks before 30 days of the transfers to their accounts.

4. Exporters must sell their remaining export incomes in foreign exchange of their bank accounts to the authorized AD licensed bank at the market prices within 30 days of the transfers without fail.

5. The non-AD banks such as people and organizations must use the export earnings for themselves or sell to AD licensed banks within 30 days and they must sell the remaining amount only to AD licensed banks before 30 days at the market prices without fail. They must not resell to other person and organizations.

6. In conducting the above mentioned procedures, the total period of sale to the AD licensed bank shall not exceed 30 days for the sale to AD licensed bank including resale via those who receive export incomes from the time of receiving the export earnings.

7. The notification No 33/2021 issued by CMB on 3 September 2021 was overlapped by this notification.

8. This notification shall come into effect from the date of issue.

Than Nyein

Governor

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