In an announcement posted on 4 November 2026, the Central Bank of Myanmar (CBM) announced a new mechanism for the sale of foreign currency to support imports into Myanmar. The measure is intended to ensure that importers can obtain foreign currency in a timely manner, reduce delays in payments to overseas suppliers, prioritize the allocation of foreign currency to genuine trade activities, and promote stability in the foreign exchange market.
What has changed?
The announcement states that the CBM will permit advance payments for imported goods under the staged foreign currency sale mechanism described below, subject to CBM scrutiny for imports considered necessary for the country. This is expected to facilitate trade transactions and improve supply chain efficiency.
Staged foreign currency allocation
For imports considered necessary for the country, the CBM will scrutinize the proposed payments and sell foreign currency in three instalments, each calculated by reference to the licensed import value:
- First instalment (30%): Upon approval of the import licence, the CBM will sell foreign currency equivalent to 30% of the licensed import value.
- Second instalment (40%): Upon submission of the Bill of Lading (B/L), the CBM will sell foreign currency equivalent to 40% of the licensed import value.
- Third instalment (30%): Upon submission of the Import Declaration (ID), the CBM will sell the remaining 30% of the licensed import value.
Practical implications
According to the CBM, the new arrangement is expected to:
- Enable the timely procurement of essential goods;
- Reduce the financial burden associated with securing the full foreign currency requirement at one time;
- Enhance confidence in international trade; and
- Facilitate the swift and efficient importation of raw materials.
Key takeaway
The announcement provides for staged sales of foreign currency for imports considered necessary for the country, subject to CBM scrutiny. Businesses importing such goods, including raw materials, may benefit from improved access to foreign currency and greater flexibility in managing payment obligations to overseas suppliers.
Importers should ensure that import licences are approved and that Bills of Lading and Import Declarations are available for submission at the relevant stages. The announcement does not specify a separate effective date, detailed eligibility criteria, the applicable exchange rate or the application procedure. Importers should confirm the implementation arrangements with their handling bank before agreeing payment schedules with overseas suppliers.
The information provided here is for information purposes only and is not intended to constitute legal advice. Legal advice should be obtained from qualified legal counsel for all specific situations.
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