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CHAPTER I - Title and Definition

1. This Law shall be called the Central Bank of Myanmar Law.

2. The following expressions contained in this Law shall have the meanings given hereunder: —
(a) State means the Union of Myanmar;
(b) Ministry means the Ministry of Planning and Finance;
(c) Central Bank means the Central Bank of Myanmar established under this Law;
(d) Board means the Board of Directors of the Central Bank;
(e) Governor means the Chairman of the Board of Directors;
(f) Member means the member of the Board of Directors;
(g) Financial Institution means an enterprise established in the State, whose corporate purpose is intermediation on the money or capital market through the collection of financial resources from third parties for investment on their own account in credit operations, credit and public debt instruments, securities, or other authorized financial activities;
(h) Bank means a financial institution which inter-alia accepts deposits from the public and extends credit;
(i) Currency Notes means the currency notes issued by the Central Bank under the provisions of this Law or legal tender currency notes previously issued;
(j) Coin means the kyat coin and its lower denominations issued by the Central Bank under the provisions of this Law or legal tender kyat coin and its lower denominations previously issued;
(k) Gold means gold bars and bullion of certified fineness acceptable in the international transactions;
(l) Currency in Circulation means the currency in circulation with the exception of currency notes and coins held by the Central Bank;
(m) Year means the financial year of the State;
(n) Person includes any individual, corporation, statutory body, institution, cooperative society, partnership and any other body, organization, association or group of persons, incorporated or unincorporated;
(o) Foreign Exchange includes the following: —
(i) foreign bank notes and coins;
(ii) deposits in intergovernmental financial institutions, central banks, treasuries and commercial banks abroad;
(iii) foreign currency denominated securities of, and instruments issued or guaranteed by foreign governments, foreign financial institutions and intergovernmental financial institutions;
(iv) instruments used for the international transfer of funds.

Date : 13th Dec 2017

 

1365.0 / USD

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Source : forex.cbm.gov.mm

Interest Rate(%)
Central Bank Rate 10% pa
Minimum Bank Deposit Rate 8%pa
Maximum Bank Lending Rate 13%pa
Economic Indicators (%)
GDP Growth 5.90 %
Annual Rate of Inflation 4.70 %
Year on Year Inflation 4.00 %

     Source : Ministry of Planning and Finance