The Central Bank of Myanmar (CBM) has revoked the licenses of 13 money changers as they failed to comply with the established regulations and directives, the Ministry of Information reported.
The CBM announced on August 14 that based on the resolution of its executive committee’s meeting, 13 money changers had had their money changer licenses revoked due to their non-compliance with the established regulations and directives.
Those companies are Prime Residence Co Ltd, West Line Co Ltd, IMA Co Ltd, Great Father Great Sons General Trading Co Ltd, Gold Foil Co Ltd, Big Lion Gems Co Ltd, Global International Investment & Development Co Ltd, World Fortune International Finance Group Shares Co Ltd, Myat Nan Yone Services Co Ltd, LP Holding Co Ltd, Golden Myanmar Asia Crown Travels & Tours Co Ltd, Yangon KSA Travel & Tours Co Ltd and Balance Co Ltd.
March 16 this year also, the CBM announced the revocation of the licenses of 20 other money changers.
They were Oake Khaung Travels & Tours Co., Ltd, Senjo Royal Myanmar Co., Ltd, Dawei Popular Co., Ltd, Zam Myo Co., Ltd, Phyo Thet (PT) Co., Ltd, Sky Bound Co., Ltd, Myanmar MCG Corporation Ltd, Htwe and Htwe Family Co., Ltd, Won Won Co., Ltd, United Eleven Co., Ltd, Tun Yama Co., Ltd, Myanmar Alinkar Hotel Group Co., Ltd, Cartel Co., Ltd, Super Phoenix Co., Ltd, Golden Falcon Shipping Co., Ltd, Fairness Travels & Tours Co., Ltd, Yadanar Bon Travels & Tours Co., Ltd, Myanmar National Airline Co., Ltd, Dewant Financial Loan Microfinance Co., Ltd and Treasure Su Co., Ltd.
