YANGON/BANGKOK -- Myanmar's military government is increasing pressure on private banks to reopen by threatening the forced transfer of private deposit accounts to military-controlled banks, a move that would hasten a reversal of the liberalization begun under former President Thein Sein a decade ago.
In a separate order issued through the Central Bank of Myanmar on March 12 the junta has ordered commercial banks to divulge details of accounts and money transfers dating back to 2016 of domestic and international nongovernmental organizations operating in Myanmar.
