Treasury Allows Further Economic Activity in Myanmar - Corruption Currents - WSJ


The U.S. Treasury Department said Friday it issued a license authorizing further economic activity in Myanmar.

Treasury authorized individuals, companies and financial institutions to conduct transactions with four of Myanmar’s biggest banks: Myanma Economic Bank, Myanma Investment and Commercial Bank, Asia Green Development Bank and Ayeyarwady Bank. Myanmar is also known as Burma.

“Increased access to Burma’s banking system for our companies and non-governmental organizations will help to facilitate Burma’s continued social and economic development, serve as a model for responsible investment and help to provide a better future for the Burmese people,” said David Cohen, undersecretary of the Treasury for terrorism and financial intelligence, in a statement.