THE Central Bank of Myanmar announced that 197 companies and their board members were blacklisted for failing to repatriate export earnings from 2016 to 2020, in line with the Foreign Exchange Management Law, directives, and regulations.
The Central Bank of Myanmar declared on 30 June 2025 that more than 197 companies have yet to repatriate the export earnings in the past five years and they were blacklisted.
According to Section 38 B of the Foreign Exchange Management Law and Section 35 of the Foreign Exchange Management Rule, and Directive 27/2022 of the Central Bank of Myanmar, the repatriation of the export earnings is compulsory. Export earnings must be deposited into the domestic bank accounts within 30 days for the goods to be exported to Asian countries and within 60 days for other countries outside Asia.
Under Section 38 B of the Foreign Exchange Management Law (Chapter 11), no one is not fail to repatriate export earnings within a specified period. Those failing to deposit the export earnings will face one-year imprisonment or fines or both under Section 42 of the Foreign Exchange Management Law.
The Central Committee on Ensuring Smooth Flow of Trade and Goods, Ministry of Planning and Finance, Ministry of Investment and Foreign Economic Relations, Ministry of Commerce, Central Bank of Myanmar and Authorized dealers (private banks) worked together to push exporters that executed export businesses between 2016 and 2020 to repatriate export earnings into their bank accounts. Those companies that failed to resolve this got their export registration revoked.
CBM announced that the company and board of directors of the 197 companies that fail to bring export earnings back to the home country in the 2016-2020 period were blacklisted according to the rules, directives and the Foreign Exchange Management Law. — NN/KK
