Exchange Control and Remittance Department

Exchange Control Department

( Cash Deposit and Withdrawl Service )

    Exchange Control Department is taking responsibility for receiving cash deposit  from organizations such as Governmental, Organizations, Non – Governmental Organizations, International Organizations, Embassies, Airlines, Gems & Jewellery shop , Pagoda Trustee  Board. Moreover, the department giving the services for Cheque Collection service and Cash Withdrawl from  FE Permit as well .

Exchange Control Department is also Providing Service for Government staff’s foreign trips by Cheque (or)Cash for  Airticket Fees , Imprest and Outfit Money.

(a) Required  documents for Governmental-

1. Ministry Application Letter
2. Payer Company’s Application Letter
3. Payer Company’s Registration  Copy

(b) Required documents for Organizations, Non – Governmental Organizations, International   Organizations-

1. Organization’s Application Letter

(c) Require documents for Embassies-

1. Embassies  Application Letter

(d) Required documents for Airlines-

1. Airlines  Application Letter
2. Travel & Tour company  letter head
3. Travel & Tour Company’s Registartion  copy           
4. Travel & Tour Licence

(e) Required documents for Gems & Jewellery shop -

1. Myanma  Gems Enterprise Cash Deposit Slip
2. Myanma  Gems Enterprise Licence Copy
3. Myanma  Gems Enterprise ( Cash Memo )
4. Myanma Foreign Trade Bank  pass book copy

(f) Required documents for  Pagoda Trustee -

1. Pagoda Trustee Board Application Letter

(g) Required documents for  Cheque Collection-

1. Customer’s  Application Letter
2. National Registration Card Copy
3. Myanma Foreign Trade Bank ( pass book Copy )
4. Cheque  Original / Copy 

(h) Required documents for  Withdrawl from FE Permit -

1. Ministry Application Letter
2. Budget Department  approval Letter
3. Myanma Economic Bank’s Cheque Original /Copy

Cash Withdraw

1. Required Documents For Imprest -

1. Budget Department approval Letter
2. Deputation order
3. Passport  (Original / Copy)
4. Cheque (or) Cash

2. Required Documents For Outfit -

1.  Application from Ministry of Foreign Affairs
2.  Recommendation of Foreign Affairs
3.  Passport  (Original / Copy)
4.  Cheque

3. Required Documents For Air Ticket Transfer -

1. Budget Department approval Letter & Deputation order (or) Application and approval Letter from Ministry of Foreign Affairs
2. Passport  (Original / Copy)
3. Cheque (or) Cash

Inheritance

Required Documents-

(1) Application Form

(2) District of Act 377 (Above USD One Thousand)

(3) Affidavit(Original) (Under USD One Thousand)

(4) Letter of Indemnity (Under USD One Thousand)

(5) Certificate of Registration of Death (Original/Copy)

(6) Family Registration Card(Original/Copy)

(7) Recommendation of Quarter(Original)

(8) National Registration Card(Original/Copy)

(9) Bank pass book(Original/Copy)

Remittance Department

(Outward Remittance Service)

Outward Remittance Department is providing the services for Telegraphic Transfer such as Government and Private sector to Correspondent  Banks.

The required documents for outward remittance as follows;

For Private (Local Firm) & Foreign Firm

1. Fund Transfer Application
2. Application Letter
3. Invoice/Firm Order/Sale Contract
4. Release Order Notification
5. Bill Of Lading (Airway Bill/Cargo Receipt)
6. Packing List
7. Import License
8. Bank Passport Copy

For Private (Foreign Firm) – (Service Only)

1. Fund Transfer Application
2. Application Letter
3. Contract
4. Audit Report
5. Tax (Payment Of Tax)

Government

1. Fund Transfer Application
2. Application Letter
3. Form (A) (For Service) (Application For Foreign Exchange Remittance Other than imports)
4. Form (Tha Ka) (for good)(Application for Foreign Exchange Remittance for Imports)
5. FE permit (Approved by Ministry of Planning & Finance) (or) (Approved by Union Minister)

For Charges (Inward & Outward remittance)

(1) Inward Remittance Commission - USD 15 (or) Equivalent Kyat

(2) Outward Remittance Commission - 0.125% of the remittance amount (or) Equivalent of Kyats Minimum USD 50

(3) Stop Payment/ Amendment/ Return - USD 15 (or) Equivalent Kyat Payment/ Query etc.

Remittance Service

(Inward Remittance Service)

Inward Remittance Department is providing the services such as customer A/C credit, Payment Order (P.O) issued in according to SWIFT message MT-103 from our Correspondent Banks.

We are providing international inward remittance services for governmental organizations, embassies, international organizations, non-governmental organization, private companies and individuals.

Requirement for inward remittance

1. For trade payment

1. ITTP form
2. Company’s application
3. Export license (if necessary)
4. Export Declaration (ED)
5. MyCo Company Certificate (Copy)
6. MyCo Company Profile (Copy)

2. For non-trade payment

1. ITTP form
2. Company’s application
3. Invoice
4. MyCo Company Certificate (Copy)
5. MyCo Company Profile (Copy)

3. For capital brought-in

1. ITTP form
2. Company’s application
3. MIC permit/DICA permit
4. MyCo Company Certificate (Copy)
5. MyCo Company Profile (Copy)

Remittance Charges

Bank charges is only USD 15 regardless of remittance amount which can be deducted from remitted amount (or) customer account (or) equivalent MMK.