Plans are underway to start easing the restrictions on cash withdrawals from banks and ATMs in September and allow withdrawing cash more than the set amounts after scrutiny, said U Win Thaw, vice governor of the Central Bank of Myanmar.

It has been somewhat long since customers started to face cash shortages as they have difficulty withdrawing cash from the banks and ATMs and having to seek cash payments outside by paying a certain percent to brokers.   

Therefore, the Central Bank has been trying to solve the problems and planned to ease the restrictions for the convenience of the people, he said.

Currently, each customer is allowed to withdraw a maximum of Ks2 million a week and companies or organizations a maximum of Ks20 million a week.

“The restrictions will be relaxed for withdrawing the amounts limited. Ks20 million a week is not enough for construction companies and businesses running with State budgets. They cannot withdraw money with a cheque. They cannot withdraw cash they want although they have deposited their money to their bank accounts. Ks20 million is not enough for them. So, we are planning to ease such restrictions after step-by-step scrutiny and procedures,” U Win Thaw said.