The Central Bank of Myanmar (; ; abbreviated CBM) is the central bank of Myanmar (formerly Burma).

Organisation Its headquarter is located in Nay Pyi Taw, and has branches in Yangon and Mandalay.

History

The Central Bank of Myanmar was founded as the Union Bank of Burma on 3 April 1948 by the Union Bank of Burma Act, 1947 and took over the functions of the Rangoon branches of the Reserve Bank of India. The Union Bank of Burma was opened at the corner of Merchant Road and Sule Pagoda Road and had the sole right to issue currency for the country.

In 2013, the Central Bank of Myanmar became an autonomous and independent regulatory body by the Central Bank of Myanmar Law, which was enacted by the Myanmar parliament.

In 2019, the Central Bank began working on a national standard QR payment system. Dubbed MyanmarPay (MMQR), the standard was launched in February 2025.

During the 2021 Myanmar coup d'état, military authorities removed the central bank's civilian-appointed leadership, including governor Kyaw Kyaw Maung, and deputy governor Bo Bo Nge, who was sentenced to 20 years in prison in December 2022 on politically motivated corruption charges.

The State Administration Council appointed Than Nyein in Kyaw Kyaw Maung's place. On 19 August 2022, the SAC appointed Than Than Swe as the governor. She became the first woman to hold the position.

Role CBM has liberalised the financial organisations for competition, efficiency and integration into the regional financial system. As of the end of October 2020, there are 27 non-banking finance companies that are currently licensed by the Central Bank. 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 1 April 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 supervision, 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 annual 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.

Organization's Structure

Divisions Governor's Office Administration and Human Resources Development Department Monetary Policy Affairs and Financial Institutions Regulation Department Financial Institutions Supervision Department Accounts Department Foreign Exchange Management Department Currency Management Department +Organizational ChartBoard of DirectorsGovernor→Director-General of Governor's OfficeDeputy Director-GeneralGovernor's OfficeDeputy Director-GeneralBoard of Secretary OfficeDeputy GovernorDirector-General of Monetary Policy Affairs and Financial Institutions Regulation DepartmentDeputy Director-GeneralMonetary Policy Research and Statistics DepartmentDeputy Director-GeneralInternational Relations DepartmentDeputy Director-GeneralFinancial Regulation and Anti-Money Laundering DepartmentDeputy GovernorDirector-General of Foreign Exchange Management DepartmentDeputy Director-GeneralForeign Exchange Management DepartmentDirector-General of Financial Institutions Supervision DepartmentDeputy Director-GeneralFinancial Institutions Supervision DepartmentDirector-General of Accounts DepartmentDeputy Director-GeneralAccounts DepartmentDeputy GovernorDirector-General of Currency Management DepartmentDeputy Director-GeneralCurrency Administrative Department (Nay Pyi Taw)Deputy Director-GeneralCurrency Administrative Department (Yangon)Deputy Director-GeneralCurrency Administrative Department (Mandalay)Deputy GovernorDirector-General of Administration and Human Resources Development DepartmentDeputy Director-GeneralAdministration and Human Resources Development DepartmentDeputy Director-GeneralInformation and SecurityDeputy Director-GeneralInternal Audit

List of governors # Name Took office Left office 1 Kyaw Nyein 1 July 1954 25 March 1968 2 Kyaw Nyunt 18 December 1971 31 July 1975 3 Aye Hlaing 8 August 1975 12 August 1981 4 Aung Sint 5 September 1981 22 March 1985 5 Kyaw Myint 15 July 1985 11 April 1986 6 Maung Maung Hla 11 April 1986 15 October 1987 7 Maung Maung Han 11 January 1988 27 December 1992 8 Kyi Aye 31 December 1992 2 November 1997 9 Kyaw Kyaw Maung 20 November 1997 11 April 2007 10 Than Nyein 12 April 2007 31 July 2013 11 Kyaw Kyaw Maung 1 August 2013 2 February 2021 12 Than Nyein 2 February 2021 19 August 2022 13 Than Than Swe 19 August 2022 10 April 202614Khin Naing Oo10 April 2026Incumbent Source:

Board of Directors

2026 - Present NamePositionTook officeLeft officeAppointer1Dr Khin Naing OoGovernor10 April 2026Min Aung Hlaing2U Zaw Myint NaingDeputy Governor3Thet Tun Aung4Dr Sandar Oo5Dr Yi AyeBoard Member10 April 20266Tin Myint7Dr Hla Nyunt8Dr Zaw Oo9Dr Phyu Phyu Ei

2022–2026 +Board of Directors (2022–present)NamePositionTook officeLeft officeAppointerRef1Daw Than Than SweGovernorSAC2U Zaw Myint NaingDeputy Governor3Dr Lin Aung4Dr Khin Naing OoBoard Member5U Aung Kyaw Than6U Ye Myint7Dr Zaw Oo

See also Myanmar kyat List of banks in Burma Economy of Burma List of central banks

Further reading

References