Client Alert | Ministry of Commerce Instructions regarding Online Sales Business Registration
ALERT July 24, 2023 Client Alert | Ministry of Commerce Instructions regarding Online Sales Business Registration Pursuant to Essential Supplies and Services Law 2012, the Union Government released a Notification No.5/2023 (“Notification No. 5/2023”) on 4 July 2023 to designate and declare Online Sales Business as an essential service, and allows the Ministry of Commerce […]
News | New Regulations for Registration of Organisations
NEWS November 28, 2022 New Regulations for Registration of Organisations On 28 October 2022, the State Administration Council passed a new law on Organisation Registration (“OR 2022”) repealing the previous Registration of Organisation Law 2014 (“ROL 2014”). The newly released OR 2022 provides details on the registration procedures of organisation and additional provisions relating to […]
Alert | Ministry of Planning and Finance issues directive on anti-money laundering and combating the financing of terrorism risks
ALERT November 9, 2022 Ministry of Planning and Finance issues directive on anti-money laundering and combating the financing of terrorism risks The Microfinance Supervisory Committee of the Ministry of Planning and Finance has issued Directive No.4/2022 (“Directive”) to implement anti-money laundering and combating the financing of terrorism (“AML/CFT”) risk management systems for microfinance institutions (“MFIs“). […]
Alert | Central Bank of Myanmar Allows Foreign Financial Institutions to Operate in Myanmar
ALERT August 29, 2022 Central Bank of Myanmar Allows Foreign Financial Institutions to Operate in Myanmar The Central Bank of Myanmar (“CBM”) has issued a directive, Directive No. 8/2022 (“NBFI Directive 8”), allowing the establishment of 100% foreign owned non-bank financial institutions (“NBFI”). The directive also provides instructions on equity investment, which means offshore share […]
Alert | Myanmar Consumer Protection Rules 2022
ALERT AUGUST 29, 2022 Myanmar Consumer Protection Rules 2022 On 18 January 2022, the Ministry of Commerce (“MOC”) released the Consumer Protection Rules (“CPR”). The introduction of CPR will support the implementation of the Consumer Protection Law (“CPL”) which passed on 15 March 2019. Further details of CPL can be found in our previous article here. […]
Alert | Further Exemptions under Myanmar’s Foreign Currency Conversion Requirements
ALERT JULY 8, 2022 Further Exemptions under Myanmar’s Foreign Currency Conversion Requirements On 3 April 2022, the Central Bank of Myanmar (“CBM”) issued Notification No. 12/2022, instructing all banks holding Authorised Dealer Licenses (“AD Banks”) to convert foreign currency into Myanmar Kyats (“Notification 12/2022”). Further requirements under Notification 12/2022 was released with the issuance of […]
Alert | Update on Central Bank of Myanmar’s Foreign Currency Conversion Requirements
ALERT JUNE 23, 2022 Update on Central Bank of Myanmar’s Foreign Currency Conversion Requirements On 3 April 2022, the Central Bank of Myanmar (“CBM”) issued Notification No. 12/2022, instructing all banks holding Authorised Dealer Licenses (“AD Banks”) to convert foreign currency into Myanmar Kyats (“Notification 12/2022”). A series of instructions relating to the conversion of […]
Alert | Requirements under Mandatory Labelling for Pre-packaged food
ALERT JUNE 6, 2022 Requirements under Mandatory Labelling for Pre-packaged food All prepackaged food requires a food label that displays certain mandatory information. Following on from our Client Alert on labelling requirements for pre-package food, the following is required under the mandatory labelling information for pre-package food: Name of the food The name shall indicate the […]
Alert | Overview of the Legal requirements for Labelling of Pre-packaged Food
ALERT JUNE 6, 2022 Overview of the Legal requirements for Labelling of Pre-packaged Food The requirement for food labelling is important as it provides the consumer with information concerning quality, safety and health of foods to allow them to choose properly. The Myanmar Food and Drug Board of Authority has issued order No.8/2022 on 20 […]
Client Alert | Central Bank of Myanmar Instructions regarding Foreign Currency Conversion
ALERT APRIL 8, 2022 Client Alert | Central Bank of Myanmar Instructions regarding Foreign Currency Conversion The Central Bank of Myanmar (“CBM”) has issued a series of directives and instructions relating to the conversion of foreign currency in Myanmar. They are as follows: Implementation of foreign currency conversion for all banks Notification No. 12/2022, dated […]