The Central Bank of Myanmar's Yangon Branch convened officials yesterday afternoon to strengthen oversight of digital payment systems. The meeting addressed loan regulations, risk assessment methods, and compliance standards for financial institutions. Governor officials stressed the importance of complete customer identification procedures for mobile payment platforms and their representatives. Enhanced transaction surveillance became a primary focus, with particular attention directed toward preventing online fraud and illegal gambling activities. Banks received guidance on reporting suspicious financial movements through established monitoring protocols.
Financial service providers must increase scrutiny of MMQR payment transactions and verify merchant classifications. The central bank mandates that payments exceeding predetermined limits flow through official banking channels rather than alternative systems. Representatives from banks and payment clearing services shared operational updates and future development strategies. Risk percentage calculations will commence during the 2026-2027 financial period as compliance measures improve across the banking sector. The governor concluded the session after outlining plans to evaluate economic sectors and adjust lending policies accordingly.
Financial service providers must increase scrutiny of MMQR payment transactions and verify merchant classifications. The central bank mandates that payments exceeding predetermined limits flow through official banking channels rather than alternative systems. Representatives from banks and payment clearing services shared operational updates and future development strategies. Risk percentage calculations will commence during the 2026-2027 financial period as compliance measures improve across the banking sector. The governor concluded the session after outlining plans to evaluate economic sectors and adjust lending policies accordingly.
