MYANMA FOREIGN TRADE BANK
REQUIREMENTS FOR BANKING SERVICES
1. FOLLOWING TYPE OF FOREIGN CURRENCY ACCOUNTS CAN BE OPENED.
1 - United States Dollar
2 - Euro
3 - Singapore Dollar
2. REQUIREMENTS
(a) NATIONAL
- Application Letter
- National Registration Card
- Evidence of Foreign Exchange Earning
- Introducers
- Initial Deposit( Minimum 100 units of currency )
- (2) Photos
(b) FOREIGNER
- Application Letter
- Passport , Visa copy
- Introducers
- Initial Deposit( Minimum 100 units of currency )
- (2) Photos
(c) Limited Company (Myanmar/Foreign), Co-operative Society , Partnership
- Application Letter
- Board of Director Resolution (Meeting minutes)
- Memorandum of Association and Articles of Association
- Company Registration Card
- Introducers
- Initial Deposit( Minimum 100 units of currency )
- Form(6) and Form(26)
- (2) Photos for each authorized person
(d) Government and Non Government Organization (NGO)
- Permission from Ministry of Finance and Revenue
- Application Letter
- National Registration Card/Passport and Visa (Copy)
- Initial Deposit US$100 (or) Donation (or) Subsidies
- (2) Photos
3. EXPORT
Requirement for Private Company
- Application Letter
- Import / Export Registration
- Company Registration
- Export Licence
4. IMPORT
(a) Required Documents for the Opening of Import Letter of Credit
Government
- Application
- Import Licence (original & copy)
- Copy of Proforma Invoice(or) Firm Order (or) Contract
- Foreign Exchange Permit from Budget Department
Private
- Application
- Import Licence (original & copy)
- Copy of Proforma Invoice
- Authorization to Debit( Debit Note )
(b) Bill Releasing
- Import Licence
-
Application
- Debit Authority for Bill Handling Commission and Bank Charges
- Letter of Indemnity
- Form (Tha-Ka)
5. REQUIREMENTS FOR REMITTING ABROAD
Government
- Application Letter
- Fund Transfer Application/Draft Order Form
- Foreign Exchange Permit from Budget Department
- Invoice/ Firm Order/ Sale Contract
Private
- Approval from Foreign Exchange Management Department of Central Bank of Myanmar
- Application Letter
- Fund Transfer Application/Draft Order Form
- Invoice / Firm Order / Sale Contract
6. ISSUANCE OF BANK GUARANTEE
Government / Department
- Application
- Required Guarantee Format
- Copy of Contract
Private
- Application
- Required Guarantee Format
- 100 % of Bank Guarantee Amount is to be deposited
- Copy of Firm Order / Contract
7. CANCELLATION OF BANK GUARANTEE
Government / Department
- Application
- Original Bank Guarantee
Private
- Application
- Original Bank Guarantee
- Original Debit Advice( if funds were deposited from company’s FC account )
8. SALES OF FOREIGN CURRENCIES FOR GOVERNMENT PERSONNEL ( FOR TRAVEL ABROAD )
- Deputation Order(DO)
- Approval from Budget Department
- Passport
- Recommendation for Outfit Allowance
- Cheque
9. SALES OF FOREIGN CURRENCIES WITH FEC 100 Units( FOR TRAVEL ABROAD)
- Application
- Departure Form
- Air Ticket
- Passport
10. FOREIGN CURRENCIES WITHDRAWAL FROM COMPANY AND PERSONAL ACCOUNTS( FOR TRAVEL ABROAD )
- Application
- Departure Form
- Air Ticket
- Passport
-
Foreign Currency Account Passbook
- Approval from Ministry of Finance & Revenue for Large Amount
11. REQUIRED DOCUMENTS FOR ACCOUNT TRANSFER
- Application
- Debit Note
- Foreign Currency Account Passbook
- Request from Department concerned if the transfer is to be credited to Government Department accounts
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