According to the Military Council’s Ministry of Commerce, more than 346 import and export enterprises' registration certificates were revoked in 2021, for failing to follow Central Bank regulations.

The Military Council controlled Central Bank issued a proclamation on 10 November 2021, stating that export earnings must be credited to a local bank account in foreign currency within three months of the export date at the latest, without fail.

Export earnings for exports to Asian countries must be credited within 45 days of the export date, and export profits for exports to other countries must be deposited to the bank account within 90 days of the export date.

On 27 April 2021, the Central Bank stated that exporters are failing to comply with the amended laws, rules, and regulations.

According to a 6 May statement from the Ministry of Commerce and the Central Bank of Myanmar, the military will take action against exporters who do not follow the amended laws.

They said that if export companies’ export earnings are not banked in time, as demanded by the new regulations, action will be taken against them.

Their export certificates will be suspended until the earnings are banked as required by the rules. In addition to the 346 companies who had their export licences revoked in 2021, this year, till 27 April, 177 exporters have also had their licences revoked for not following the regulations.