Foreign Remittances
The bank has been accepting foreign funds remittances through its nostro accounts and also remitting funds abroad. Remittances from abroad into the country can be made for the following purposes.
- Capital brought-in of foreign companies and foreign investors
- Working capital injection of foreign companies
- Salary payments
- Commission and service charges
- Payment for package tour
- Compensations
- Workers remittances
- Aids and grants
Outgoing remittances abroad can be made for the following purposes.
- Repatriations of salaries by foreigners, working in Myanmar
- Payments for management fees to their head offices
- Repatriation of ticket sale proceeds from foreign air-lines
- Loans repayments
- Payments for insurance premiums
- Remittances for dividend from foreign companies
- Repatriations of their share capital from foreign companies after liquidation
Remittances can be done promptly by SWIFT system.
International Trade Banking Services
MICB provides international trade banking services to Exporters and Impor
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