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Myanmar Crisis

Myanmar junta targets banks in push against 'foreign interference'

Sector also threatened with forced transfer of accounts to military-linked entities

People sit outside a closed bank in Yangon on March 8: Myanmar's military rulers have threatened to seize deposits from commercial banks that stay closed under pressure from protesters.   © EPA/Jiji

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.

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