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Central Bank of Myanmar

Central Bank of Myanmar
Established3 April 1948 (as Union Bank of Burma)
Ownership100% state ownership[1]
GovernorThan Than Swe
Central bank ofMyanmar (Burma)
CurrencyMyanmar kyat
MMK (ISO 4217)
Preceded byUnion Bank of Burma
People's Bank of Union Bank of Burma Edit this at Wikidata

The Central Bank of Myanmar (Burmese: မြန်မာနိုင်ငံတော်ဗဟိုဘဏ်; MLCTS: mranma nuingngamtau bahuibhan; IPA: [mjəmà nàinŋàndɔ̀ bəhòʊbàn]; abbreviated CBM) is the central bank of Myanmar (formerly Burma).

Former headquarters of CBM in Yangon


Its headquarter is located in Nay Pyi Taw, and has branches in Yangon and Mandalay.


The Central Bank of Myanmar was founded as the Union Bank of Burma on 3 April 1948 by the Union Bank of Burma Act, 1947[2][3] and took over the functions of the Rangoon branches of the Reserve Bank of India.[4] The Union Bank of Burma was opened at the corner of Merchant Road and Sule Pagoda Road and had a sole right to issue currency.

In 2013, the Central Bank of Myanmar became an autonomous and independent regulatory body by the Central Bank of Myanmar Law, which was enacted by the Myanmar parliament.

During the 2021 Myanmar coup d'état, military authorities removed the central bank's civilian-appointed leadership, including governor Kyaw Kyaw Maung, and deputy governor Bo Bo Nge, who was sentenced to 20 years in prison in December 2022 under politically motivated corruption charges.[5][6]

The State Administration Council appointed Than Nyein in Kyaw Kyaw Maung's place.[7][8] On 19 August 2022, the SAC appointed Than Than Swe as the governor.[9] She became the first female to hold the position in history.


CBM has liberalised the financial organisations for competition, efficiency and integration into the regional financial system. As of the end of October 2020, there 27 non-banking finance companies that are currently licensed by the Central Bank.[10] According to the changes in the economic requirements of the country, the Central Bank rate has been increased from 10 percent to 12 percent since 1 April 2006.[citation needed]

Agricultural liberalisation speeded up after the elimination of the government procurement system of the main agricultural crops such as rice, pulses, sugarcane, cotton, etc., in 2003–04. The state also reduced the subsidised agricultural inputs, especially fertiliser. With an intention to enhance private participation in trade of agricultural products and inputs, the government is now encouraging export of crops which are in surplus in domestic markets or grown on fallow or waste land, giving opportunities to farmer and private producers.

Upon the guidance of the Ministry of Finance & Revenue, the CBM is responsible for financial stability and supervision of the financial sector in Myanmar. The institutional coverage of the financial supervisory authority includes state-owned banks and private banks in Myanmar. Two main approaches (on-site examination and off-site monitoring) are currently used for supervision, regulation and monitoring of financial stability.

On-site examination involves assessing banks’ financial activities and internal management, to identify areas where corrective action is required and to analyse their banking transactions and financial conditions, ensuring that they are in accordance with existing laws, rules and regulations and the instructions of the CBM by using CAMEL. Off-site monitoring operations are normally based on the weekly, monthly, quarterly and annual reports which are submitted by the banks to the CBM.

The Central Bank has also issued guidelines on the statutory reserve requirement, capital adequacy, liquidity, classification of N.P.L. and provision for bad and doubtful debts, single lending limit, etc. The reserve requirement, liquidity and capital adequacy required to be maintained by financial institutions have been prescribed according to the standards of the Bank for International Settlements (BIS). However, the implementation of Basel II will still take a few more years.

Organization's Structure

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  1. Governor's Office
  2. Administration and Human Resources Development Department
  3. Monetary Policy Affairs and Financial Institutions Regulation Department
  4. Financial Institutions Supervision Department
  5. Accounts Department
  6. Foreign Exchange Management Department
  7. Currency Management Department
Organizational Chart
Board of Directors Governor Director-General of Governor's Office Deputy Director-General Governor's Office
Deputy Director-General Board of Secretary Office
Deputy Governor Director-General of Monetary Policy Affairs and Financial Institutions Regulation Department Deputy Director-General Monetary Policy Research and Statistics Department
Deputy Director-General International Relations Department
Deputy Director-General Financial Regulation and Anti-Money Laundering Department
Deputy Governor Director-General of Foreign Exchange Management Department Deputy Director-General Foreign Exchange Management Department
Director-General of Financial Institutions Supervision Department Deputy Director-General Financial Institutions Supervision Department
Director-General of Accounts Department Deputy Director-General Accounts Department
Deputy Governor Director-General of Currency Management Department Deputy Director-General Currency Administrative Department (Nay Pyi Taw)
Deputy Director-General Currency Administrative Department (Yangon)
Deputy Director-General Currency Administrative Department (Mandalay)
Deputy Governor Director-General of Administration and Human Resources Development Department Deputy Director-General Administration and Human Resources Development Department
Deputy Director-General Information and Security
Deputy Director-General Internal Audit

List of governors

# Name Took office Left office
1 Kyaw Nyein 1 July 1954 25 March 1968
2 Kyaw Nyunt 18 December 1971 31 July 1975
3 Aye Hlaing 8 August 1975 12 August 1981
4 Aung Sint 5 September 1981 22 March 1985
5 Kyaw Myint 15 July 1985 11 April 1986
6 Maung Maung Hla 11 April 1986 15 October 1987
7 Maung Maung Han 11 January 1988 27 December 1992
8 Kyi Aye 31 December 1992 2 November 1997
9 Kyaw Kyaw Maung 20 November 1997 11 April 2007
10 Than Nyein 12 April 2007 31 July 2013
11 Kyaw Kyaw Maung 1 August 2013 2 February 2021
12 Than Nyein 2 February 2021 19 August 2022[11]
13 Than Than Swe[12] 19 August 2022 Present


Board of Directors


Board of Directors (2022–present)
Name Position Took Office Left Office Appointer Ref
1 Daw Than Than Swe Governor SAC
2 U Zaw Myint Naing Deputy Governor
3 Dr Lin Aung
4 Dr Khin Naing Oo Board Member
5 U Aung Kyaw Than
6 U Ye Myint

See also

Further reading

  • "The Union of Myanmar" (PDF). South East Asian Central Banks Research and Training Centre. 2005. pp. 45–49. Archived from the original (PDF) on 29 September 2007. Retrieved 2 July 2006.


  1. ^ Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek. Archived from the original on 28 May 2020. Retrieved 9 May 2020.
  2. ^ "The Union Bank of Myanmar Act, 1947 [No. LX of 1947]" (PDF). 13 September 1947. Archived (PDF) from the original on 27 September 2019. Retrieved 27 September 2019.
  3. ^ "မြန်မာဥပဒေသတင်းအချက်အလက်စနစ်". Archived from the original on 18 May 2021. Retrieved 27 September 2019.
  4. ^ "Central Bank of Myanmar". Archived from the original on 28 May 2014. Retrieved 16 July 2017.
  5. ^ "Myanmar junta sentences former Central Bank official to 20 years in prison". Radio Free Asia. 16 December 2022. Archived from the original on 7 March 2023. Retrieved 7 March 2023.
  6. ^ "Myanmar coup removes central bank chief, alarming global financiers". Nikkei Asia. 13 February 2021. Archived from the original on 7 March 2023. Retrieved 7 March 2023.
  7. ^ "Myanmar: Back to the future for the military junta". Euromoney. 3 February 2021. Archived from the original on 7 March 2023. Retrieved 7 March 2023.
  8. ^ "Bank shake-up seen as bid by junta to control Myanmar's financial sector: experts". Radio Free Asia. Archived from the original on 7 March 2023. Retrieved 7 March 2023.
  9. ^ "Myanmar regime replaces governor". Central Banking. 22 August 2022. Archived from the original on 30 July 2023. Retrieved 7 March 2023.
  10. ^ "List of Non-Bank Financial Institutions". Archived from the original on 18 January 2021. Retrieved 23 December 2020.
  11. ^ "တာဝန်မှ အနားယူခွင့်ပြုခြင်း". Archived from the original on 30 July 2023. Retrieved 19 August 2022.
  12. ^ "မြန်မာနိုင်ငံတော်ဗဟိုဘဏ်ဥက္ကဋ္ဌ ခန့်အပ်တာဝန်ပေးခြင်း".
  13. ^ "List of Governors of the Central Bank of Myanmar". Central Bank of Myanmar. Archived from the original on 11 May 2020. Retrieved 30 September 2023.

19°47′29″N 96°08′39″E / 19.7915°N 96.1441°E / 19.7915; 96.1441

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Central Bank of Myanmar
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