24.03.2025 – 28.03.2025 A Tate Papers A Pine 2
Myanmar will accept two Burmese nationals deported by the United States, the Ministry of Foreign Affairs of Myanmar announced on March 21.
The two deportees will arrive in Myanmar on March 19 and March 28, the Ministry of Foreign Affairs said.
The Ministry of Foreign Affairs said in a statement that countries around the world routinely deport foreigners who have violated the interests of their respective countries, committed crimes, or illegally immigrated. Similarly, the new US administration’s priority policies include deporting foreigners who have violated immigration regulations and committed crimes. In deporting such lawbreakers to relevant countries, the US government is working with relevant US government agencies to screen and accept those deported to Myanmar.
The first two groups of repatriated Myanmar citizens will arrive in Myanmar separately by air on March 19 and March 28, and officials will welcome and support them. The Ministry of Foreign Affairs announced that citizens should only travel abroad through legal channels and comply with the relevant domestic laws of each country they visit. The deportations show that it is best to live within the framework of the law in their home country.
In February 2021, the Myanmar Navy repatriated 1,086 Myanmar citizens who were deported from Malaysia to Malaysia by military vessels.
The Central Bank of Myanmar has increased the interest rate on the average excess reserves that banks must maintain in Myanmar Kyat (CAB) from 3.8 percent to 6 percent, the Central Bank announced on March 21, 2025.
The Central Bank of Myanmar has issued a directive (4/2024) to increase the interest rate on the average excess reserves that banks must maintain in Myanmar Kyat (CAB) to 3.8 percent in order to further facilitate the liquidity of banks and to increase the banks’ interest income.
The Central Bank of Myanmar has issued a directive (4/2024) to increase the interest rate on the average excess reserves that banks must maintain in Myanmar Kyat (CAB) to 3.8 percent in order to indirectly reduce the relatively high level of circulating funds outside the Central Bank. In order to support the correctness of the interest rate structure and to contribute to the stability of the banking sector by generating more interest income for banks, the interest rate paid on the average excess reserves in excess of the minimum reserve requirement (CAB) to be maintained by banks in Myanmar Kyat (MYK) has been adjusted in accordance with the decision of the Monetary Policy Committee (MPC) meeting (1/2025) held on February 28, 2025.
In paying interest on the average excess reserves, interest will be paid only to banks with an average excess reserve of at least seven billion kyats and above, and the maximum excess reserve will be allowed up to 50 billion kyats, and the interest rate on the average excess reserves has been increased to 6 percent.
The Central Bank of Myanmar will review the minimum and maximum interest rate on the reserve funds and the interest rate on the average reserve funds from time to time and adjust (increase/decrease) to meet market needs.
The interest will be calculated based on the average reserve funds on the last day of the minimum reserve requirement maintenance period and will be automatically credited to the relevant bank’s account at the Central Bank of Myanmar on the last day of the maintenance period.
The interest on average net surplus will be implemented from the maintenance period from March 26 to April 22, 2025. The interest on average net surplus will be applied uniformly to state-owned banks, private banks, and foreign bank subsidiaries that are permitted to provide retail banking services in Myanmar kyat.