There is a plan to enable any local bank to carry out direct kyat-ruble payments between Myanmar and Russia, according to the press release of the information team of the State Administration Council (SAC).
The statement stated that network connections have been completed between the Myanmar Payment Unit (MPU) and the MIR Payment System for direct payment of Myanmar Kyats and Russian Rubles, and host to host connectivity testing is being discussed.
Regarding the MIR Card System, which is being implemented by Myanmar Payment Union (MPU), a Non-Disclosure Agreement (NDA) has been signed between MPU and Russia's National Payment Cards System (NSPK), and a Memorandum of Understanding has also been signed.
Currently, the advantage of using MPU and MIR Payment System cards is that dependence on the US dollar will decrease, and payments between Myanmar and Russia will be easier and faster.
In Myanmar, the statement stated that the direct payment of yuan-kyat, baht-kyat and rupee-kyat has been made in order to widen the range of payments and now only the continuation of the ability to pay in ruble-kyat with Russia is planned to enable the payment of Myanmar-Russia direct payment from any local bank.
