The decision came after multiple efforts including issuing notices, revoking exporter and importer registrations were made, the central bank confirmed in a statement to the media.
The CBM added the export companies and their members of boards of directors to a blacklist for not repatriating the earnings from goods exported in 2019, the statement said.Under the country's foreign exchange management regulation, all exporters in Myanmar are required to deposit export proceeds into bank accounts in the country within the prescribed periods. - Xinhua
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