Myanmar’s military council restricts exports to Bangladesh via Maungdaw, reports local media
The move comes following a decision by the state-owned Sonali Bank to freeze two major Myanmar banks’ assets, reports Myanmar Now, a Yangon-based news agency.
Myanmar's junta has prohibited the export of various food commodities to Bangladesh via Maungdaw, Rakhine State, local media reported on Friday (8 September).
The move comes following a decision by Bangladesh's Sonali Bank to freeze two major Myanmar banks' assets, reports Myanmar Now, a Yangon-based news agency.
According to the report, the military regime's ministry of commerce announced on 1 September that the restricted goods—including rice, beans, peanuts, and onions—must be shipped only through the commercial zone in the Rakhine State capital of Sittwe, saying the order would come into effect on September 4," reports the news agency.
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"Sonali Bank imposed restrictions, which could lead to the smuggling of people and goods," it reported quoting Myint Thura, director general of the junta commerce ministry's trade department.
"That is why people need to export through Sittwe, to prevent smuggling," Myint Thura added.
State lender Sonali Bank recently froze $1.4M in accounts of two junta-controlled banks – Myanmar Foreign Trade Bank, Myanmar Investment and Commercial Bank– following a request from the US government to the Bangladesh Foreign ministry, The Business Standard reported on 16 August.
Later on 5 September, the Bangladesh Bank advised all not to conduct any transactions with the two banks in Myanmar that are under US sanctions.
