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Myanmar to introduce new system with banking operation |
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21:11, August 13, 2007 |
Myanmar will introduce a new system to govern bank deposit for bank security purpose, local media reported Monday.
The new system prescribes that the opening of bank account by fresh depositor shall be supported and certified by two others already deposited with the bank, the Flower News quoted an official with the State Cooperative Bank as saying.
The system will be applied to all banks in the country dealing with deposit, the report added.
The introduction of the new system is seen as part of the measures taken by the finance authorities in governing businessmen 's bank deposits made simply just at will previously and monitoring suspected money laundering.
Source: Xinhua
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