News & Analysis as of

Myanmar Financial Institutions

Sheppard Mullin Richter & Hampton LLP

Myanmar Sanctions – A Last Resort Against a Non-Cooperating Country

On October 21, 2022, the Financial Action Task Force (FATF) officially moved Myanmar onto the agency’s blacklist, where it joins Iran and North Korea, the only other two listed countries. It is likely that the United States...more

A&O Shearman

Myanmar update from on the ground: Changes to the Electronic Transactions Law and the impact on financial institutions

A&O Shearman on

The amended Electronic Transactions Law (ETL) is one of several legislative changes that have emanated from the recent military takeover in Myanmar. These changes affect banks, insurers, providers of payments infrastructure...more

BCLP

Myanmar Postcard

BCLP on

Further liberalisation of the Myanmar banking and financial services sector The Central Bank of Myanmar (“CBM”) is making significant strides towards opening up Myanmar’s banking and finance sector.  In the past few months,...more

BCLP

Myanmar Postcard

BCLP on

Welcome to the latest edition of our Myanmar update for 2019. We have distilled the top news items into this summary 'speed read'. Further liberalisation of the Myanmar banking and financial services sector - The...more

Morrison & Foerster LLP

Market Solutions, Volume 26, No. 1

Sanctions: Will the Trump Administration Stay the Course? President Trump made many statements during the campaign regarding actions he plans to take to reverse Obama administration sanctions policies. These included...more

Pillsbury - Global Trade & Sanctions Law

U.S. Announces End of Myanmar Sanctions – What Will Go and What Remains?

On September 15, 2016, President Obama announced that U.S. economic sanctions on Myanmar (also known as Burma) would end, but the announcement left many questions as to what would change and what sanctions might remain. On...more

The Volkov Law Group

Sanctions Updates: Iran, Myanmar (Burma) and Cuba

The Volkov Law Group on

With the rise of OFAC Sanctions enforcement and compliance issues, companies have to devote significant resources to following changes in OFAC Sanctions. Over the last few years, the US government has significantly altered...more

King & Spalding

U.S. Issues Burma General Licenses

King & Spalding on

In May, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) amended the Burmese Sanction Regulations, and the U.S. Department of State (State) proposed revisions to the Burma Responsible...more

Skadden, Arps, Slate, Meagher & Flom LLP

"US Further Eases Burma Sanctions"

In response to Burma’s peaceful and competitive elections in November 2015, on May 18, 2016, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) further eased U.S. sanctions against Burma (Myanmar). These...more

Dechert LLP

United States Further Eases Economic Sanctions on Burma/Myanmar

Dechert LLP on

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) eased certain sanctions against Burma/Myanmar on May 17, 2016, including by allowing most transactions involving Burmese financial institutions....more

K&L Gates LLP

Focus on Corruption: Myanmar - A New Beginning?

K&L Gates LLP on

Historically, Myanmar has not been known as a country with a focus on anti-corruption and anti-money laundering. In 2015, the Frankfurt-based Transparency International ranked the country as one of the most corrupt places to...more

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