Myanma Investment and Commercial Bank
Ministry of Planning and Finance / April 11, 2019
The Services of Foreign Accounts Department
1. Opening Current Deposit Accounts in Foreign currencies.
2. Accepting Fixed Deposit (in US Dollar).
3. Allowing withdrawal, Cash Deposit, Account Transfer and Issuing Payment Order for Foreign Currencies Account holders.
The services of Foreign Remittance Department
- Inward Remittance (Non Trade)
- Inward Remittance (Non Trade) for different purpose are credit to the customer Accounts from our correspondent banks.
2. Inward Remittance (Non Trade)
- Remitting the trade and non trade payments to aboard.
The Services of Export /Import and Trade Financing
1. Opening the Letter of Credit.
2. Remitting the payment for Import Bill Payment transactions for Bill Payment
for Import transactions.
3. Servicing the Trade Financing to bank’s gold customer who are in line with the criteria of the bank and based on their balance of
Fixed Deposit and Reserve amount.
4. Selling USD for opening Letter of Credit.
5. Issuing Export Letter of Credit.
6. Providing Post-Shipment Export Trade Financing under Export Letter of Credit.
7. Trade Financing
- Provide the Short-term Financing to Export/ Import Companies, Foreign Companies, Joint Venture Companies, Foreign Bank
(Branches)and the bank’ customer by taking USD as collateral.
(Interest Rate for tenor (8)days is 8.5% per annum and
1 month, 3 months is 9% per annum)
The Services of Loan Department
1. Overdraft (1 year) 13 % Per annum
2. Short-term Loan (1 year) 12.5 % Per annum
3. Medium Term Loan (1 year) 12 % Per annum
4. Short Term Financing (Export/Import) 5 % Per annum
(8 days to 180 days)
5. Short - term Trade Financing 8.5 % to 9 % Per annum
(8 days to 180 days)
6. Bilateral Interbank Lending as arranged
(1 month, 2 months, 3 months to 1 year)
- FX Dealing for buying /selling Foreign Currencies between the local banks for development the Interbank Market.
- FX Dealing for buying /selling Foreign Currencies for Export/Import companies and foreign investment companies for trade and
- OK$ Mobile Payment Services.