Myanmar allows banks to handle remittances from abroad

December 24th, 2011 - 9:57 pm ICT by IANS  

Yangon, Dec 24 (IANS) The Myanmar government Saturday allowed its banks to handle remittances from Myanmarese living in Singapore, Thailand and Malaysia, the official media reported.

The banks, including Cooperatives Bank, Kanbawza Bank and Asia Green Development Bank, will help facilitate migrant workers to be able to send money to their families in the country, Xinhua reported quoting the New Light of Myanmar newspaper.

Myanmarese are working in Thailand, Singapore, Malaysia, Japan, South Korea and the Middle East countries.

Myanmar will exempt its citizens living abroad from paying income tax in foreign currency from Jan 1.

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