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Relationship between Myanmar and SEACEN

The South East Asian Central Banks(SEACEN) was first established as a legal entity in 1982 with eight member central banks(Bank Indonesia, Bank Negara Malaysia, Central Bank of Myanmar, Nepal Rastra Bank, Bangko Sentral ng Pilipinas, Monetary Authority of Singapore, Central Bank of Sri Lanka and Bank of Thailand). It has grown 19 members with the inclusion of Bank of Korea on 25 January 1990, Central Bank, Chinese Taipei on 25 January 1992, The Bank of Mongolia on 20 May 1999, Autoriti Monetari Brunei Darussalam on 1 April 2003, the Reserve Bank of Fiji on 1 April 2004, the Bank of Papua New Guinea on 2 June 2005, the National Bank of Cambodia on 1 April 2006; the State Bank of Vietnam on 1 September 2006 and the People’s Bank of China on 25 January 2011; the Bank of The Lao, PDR on 14 February 2012 and Reserve Bank of India on 1 January 2013. Currently, the SEACEN Centre is located at Level 5, Sasana Kijang,Bank Negara Malaysia,2 Jalan Dato’ Onn,50480 Kuala Lumpur, Malaysia.

The objectives of The SEACEN Centre are:

-     To promote a better understanding of the financial, monetary, banking and economic development matters which are of interest to the central banks and monetary authorities of the countries in South East Asia or of interest to the region as a whole and

-     To stimulate and facilitate co-operation among central banks and monetary authorities in the area of research and training.

The Vision of the SEACEN Centre is to be the regional learning hub for Central Banks in the Asia-Pacific Region.

The Governor of the Central Bank of Myanmar, U Kyaw Kyaw Maung, a member of the SEACEN Board of Governors, gives  the approval and consultation  for BOG’s decision making of the such matters, appointment of the Executive Director admission of new members to the SEACEN Centre and other strategic matters. The Deputy Governor of the Central Bank of Myanmar, Daw Khin Saw Oo, who is responsible for SEACEN affairs and a member of the SEACEN Executive Committee, makes recommendation on financial procedure of the SEACEN rules and regulations with regard to the SEACEN’s staff and SEACEN Events(learning programs and SEACEN Projects) for approval of the Board of Governor of the SEACEN Centre. Moreover, the respective departmental heads of the Central Bank of Myanmar (Policy Research, International Relations and Training Department, Financial Institutions Supervision Department and Payment and Settlements Department) attend the Meetings of Directors of  Research and Training, Directors of Supervision and Director of Payment and Settlements. Besides, staff from the Central Bank of Myanmar  have  been enjoying some learning events conducted under the SEACEN Strategic Initiatives with the SEACEN Trust Fund and Additional Trust Fund Scholarships. The Central Bank of Myanmar hosted one of the SEACEN learning events namely “6th SEACEN Intermediate Course on Payment and Settlement Systems for Emerging Economies on 19-23 June 2011”.

Date : 21th Sep 2017

 

1359.0 / 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 4.91 %
Year on Year Inflation 2.30 %

     Source : Ministry of Planning and Finance