Myanma Foreign Trade Bank

REQUIREMENTS FOR BANKING SERVICES

  1. (1) FOLLOWING TYPE OF FOREIGN CURRENCY ACCOUNTS CAN BE OPENED.
    • (1) United States Dollar
    • (2) Euro
    • (3) Singapore Dollar
  2. (2) REQUIREMENTS

    (a) NATIONAL

    • -Application Letter
    • - National Registration Card
    • - Evidence of Foreign Exchange Earning
    • - Introducers
    • - Initial Deposit( Minimum 100 units of currency )
    • - (2) Photos

    (b) FOREIGNER

    • - Application Letter
    • - Passport , Visa copy
    • - Introducers
    • - Initial Deposit( Minimum 100 units of currency )
    • - (2) Photos

    (c) Limited Company (Myanmar/Foreign), Co-operative Society , Partnership

    • - Application Letter
    • - Board of Director Resolution (Meeting minutes)
    • - Memorandum of Association and Articles of Association
    • - Company Registration Card
    • - Introducers
    • - Initial Deposit( Minimum 100 units of currency )
    • - Form(6) and Form(26)
    • - (2) Photos for each authorized person

    (d) Government and Non Government Organization (NGO)

    • - Permission from Ministry of Finance and Revenue
    • - Application Letter
    • - National Registration Card/Passport and Visa (Copy)
    • - Initial Deposit US$100 (or) Donation (or) Subsidies
    • - (2) Photos
  3. (3) EXPORT

    4. Requirement for Private Company

    • - Application Letter
    • - Import / Export Registration
    • - Company Registration
    • - Export Licence
  4. (4) IMPORT
    • (a) Required Documents for the Opening of Import Letter of Credit

      • Government

    • - Application
    • - Import Licence (original & copy)
    • - Copy of Proforma Invoice(or) Firm Order (or) Contract
    • - Foreign Exchange Permit from Budget Department

      • Private

    • - Application
    • - Import Licence (original & copy)
    • - Copy of Proforma Invoice
    • - Authorization to Debit( Debit Note )

      • (b)Bill Releasing

    • - Import Licence
    • - Application
    • - Debit Authority for Bill Handling Commission and Bank Charges
    • - Letter of Indemnity
    • - Form (Tha-Ka)
  5. (5) REQUIREMENTS FOR REMITTING ABROAD Government
    • - Application Letter
    • - Fund Transfer Application/Draft Order Form
    • - Foreign Exchange Permit from Budget Department
    • - Invoice/ Firm Order/ Sale Contract

      • Private

    • - Approval from Foreign Exchange Management Department of Central Bank of Myanmar
    • - Application Letter
    • - Fund Transfer Application/Draft Order Form
    • - Invoice / Firm Order / Sale Contract
  6. (6) ISSUANCE OF BANK GUARANTEE

      7. Government / Department

    • - Application
    • - Required Guarantee Formatံ
    • - Copy of Contract

      • Private

    • - Application
    • - Required Guarantee Format
    • - 100 % of Bank Guarantee Amount is to be deposited
    • - Copy of Firm Order / Contract
    • - ဘဏ္အာမခံတန္ဖိုးႏွင့္ေကာ္မ႐ွင္ေပးသြင္းေၾကာင္းအေထာက္အထား
    • - Performance Guarantee အတြက္ Firm Order/Contract မိတၱဴ
  7. (7) CANCELLATION OF BANK GUARANTEE

    8. Government / Department

    • - Application
    • - Original Bank Guarantee

      • Private

    • - Application
    • - Original Bank Guarantee
    • - Original Debit Advice( if funds were deposited from company’s FC account )
  8. (8) SALES OF FOREIGN CURRENCIES FOR GOVERNMENT PERSONNEL ( FOR TRAVEL ABROAD )
    • - Deputation Order(DO)
    • - Approval from Budget Department
    • - Passport
    • - Recommendation for Outfit Allowance
    • - Cheque
  9. (9) FOREIGN CURRENCIES WITHDRAWAL FROM COMPANY AND PERSONAL ACCOUNTS( FOR TRAVEL ABROAD )
    • - Application
    • - Departure Form
    • - Air Ticket
    • - Passport
    • - Foreign Currency Account Passbook
    • - Approval from Ministry of Finance & Revenue for Large Amount
  10. (10) REQUIRED DOCUMENTS FOR ACCOUNT TRANSFER
    • - Application
    • - Debit Note
    • - Foreign Currency Account Passbook
    • - Request from Department concerned if the transfer is to be credited to Government Department account