SAC appoints General Mya Tun Oo as the Chairman of the Foreign Exchange Supervisory Committee

General Mya Tun Oo, who was assigned as the chairman of the Foreign Exchange Supervision Committee

Published 21 September 2023

EMG

The Deputy Prime Minister and Union Minister for Transport and Communications, General Mya Tun Oo, has been appointed to replace Lt. Gen. Moe Myint Tun, who was the Chairman of the Foreign Exchange Supervision Committee, according to an order issued by the State Administration Council (SAC) on September 18.

The newly formed Foreign Exchange Supervisory Committee will be chaired by General Mya Tun Oo, and Minister for Investment and Foreign Trade, Dr. Kan Zaw as Secretary of the committee. Deputy Prime Minister and Union Minister for Planning and Finance U Win Shein, Adviser to the SAC Lt. Gen. Nyo Saw, Union Minister for Commerce U Aung Naing Oo, and Daw Than Than Swe, Governor of the Central Bank of Myanmar, are assigned as members.

The Foreign Exchange Supervision Committee was established on April 4, 2022 by the SAC, chaired by Lt. Gen. Moe Myint Tun, a member of the State Administration Council, and U Aung Naing Oo, the Union Minister for Investment and Foreign Trade, as the secretary. Union Minister for Planning and Finance U Win Shein, Union Minister for Commerce Dr Pwint San, the Union Auditor General Dr Kan Zaw, and the Governor of the Central Bank of Myanmar, U Than Nyein, were assigned as the committee members.

The Foreign Exchange Supervisory Committee was established by the SAC to carry out the tasks necessary to stabilize the foreign exchange rate and use foreign currency effectively for Myanmar's economic development.

After that, on July 5, 2023, the Foreign Exchange Supervision Committee was reorganized, and Lt. Gen. Moe Myint Tun continued to serve as the chairman, and the members were Union Minister for Planning and Finance U Win Shein, Adviser to the SAC Lt. Gen. Nyo Saw, Union Minister for Commerce U Aung Naing Oo, and Daw Than Than Swe, Governor of the Central Bank of Myanmar, and Dr. Kan Zaw, Minister for Investment and Foreign Trade was assigned as secretary.

Currently, there are also widespread reports that Lt. Gen. Moe Myint Tun, who served as the chairman of the Foreign Exchange Supervision Committee, Major General Yan Naung Soe, Joint Secretary of the Central Committee for Ensuring the Smooth Flow of Trade and Goods and businessmen are being summoned for questioning.

Despite the widespread news, there has been no confirmation from the SAC about the news.

In addition, Lt. Gen. Moe Myint Tun, one of the top leaders of the SAC, is also well known as a confidant of the SAC chairman, Senior General Min Aung Hlaing.