The Central Bank of Myanmar ( mjəmà nàinŋàndɔ̀ bəhòʊbàn; abbreviated CBM) is the central bank

Central bank

A central bank, reserve bank, or monetary authority is a public institution that usually issues the currency, regulates the money supply, and controls the interest rates in a country. Central banks often also oversee the commercial banking system of their respective countries...

 of Myanmar

Myanmar

Burma , officially the Republic of the Union of Myanmar , is a country in Southeast Asia. Burma is bordered by China on the northeast, Laos on the east, Thailand on the southeast, Bangladesh on the west, India on the northwest, the Bay of Bengal to the southwest, and the Andaman Sea on the south....

 (formerly Burma). It was established under the Central Bank of Myanmar Law in 1990. Its headquarters are in Yankin Township

Yankin Township

Yankin Township is located in the north-central part of Yangon. The township comprises 15 wards, and shares borders with Mayangon township in the north, Thingangyun township and South Okkalapa township in the east, the Inya Lake, Bahan township and Mayangon township in the west, and Tamwe township...

, Yangon

Yangon

Yangon is a former capital of Burma and the capital of Yangon Region . Although the military government has officially relocated the capital to Naypyidaw since March 2006, Yangon, with a population of over four million, continues to be the country's largest city and the most important commercial...

, Yangon Division

Yangon Division

Yangon Region is an administrative region of Myanmar. Located in the heart of Lower Myanmar, the division is bordered by Bago Region in the north and east, the Gulf of Martaban in the south, and Ayeyarwady Region in the west. Yangon Region is dominated by its capital city of Yangon, the former...

 and is headed by a 17-member board of directors

Board of directors

A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...

, headed by Than Nyein. The Central Bank of Myanmar is operated by the Ministry of Finance and Revenue, which is a government ministry headed by Major-General Hla Tun. Deputy Minister of Revenue and Finance is Colonel Hla Thein Swe.

The Central Bank of Myanmar (CBM) has liberalised the financial
organisations for competition, efficiency and integration into the
regional financial system. As of end-December 2007, there are
15 domestic private banks and 13 representative offices of foreign
banks and 3 representative offices of foreign insurance companies
in Myanmar. 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 April 1, 2006.
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 supervisory/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 annually 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.

As of end of April 2007, its current members are as follows:

• Governor
  • Than Nyein
• Deputy Governor
  • Maung Maung Win
• Directors
  • Ohmar Sein (Research and Training Department)
  • Maung Maung (Internal Audit and Bank Supervision Department)
  • Nay Aye ( Security Department)
  • Hla Myint (Currency Department)
  • Tin Htoo (Administration Department)
• Deputy Directors
  • Myint Myint Tin (Foreign Exchnage Management Department)
  • Khin Saw Oo (Research and Training Department/Bank Regulation Department)
  • Naw Eh Hpaw (Accounts Department)
  • Kyaw Win Tin (Currency Department)
  • Thein Zaw (Administration Department)
  • Aung Kyaw Than (Security Department)
• Assistant Directors
  • Hla Nyunt (Administration Department)
  • Maung Maung Than (Currency Department)
  • Aung Kyaw Htoo (Currency Department, Upper Myanmar)
  • Myint Myint Than (Currency Department)
  • Kyu Kyu Thein (Internal Audit and Bank Supervision Department)
  • Than Than Swe (Accounts Department)
  • Khin Cho Cho (Research and Training Department)
  • Thida Myo Aung (Foreign Exchnage Management Department)
  • May Malar Maung Gyi (Research and Training Department)
  • Myo Min (Security Department)