CBM Allows Advance Payments for Imports in Three Stages

On 4 November 2026, the Central Bank of Myanmar (“CBM”) announced that advance payments for imports would be permitted in three stages, subject to the submission of the specified supporting documents. This is a notable change from the prior rules, issued by the CBM under Letter FE 882/2023 on 3 July 2023, whereby the CBM had restricted advance payments for imports, allowing them only in exceptional cases supported by compelling reasons and subject to the CBM’s approval.

Under the new arrangement, importers may apply for the purchase and remittance of foreign currency in three separate stages, as follows:

• First stage – 30%: Upon the issuance of the import license, importers may apply for an advance payment of up to 30% of the licensed import value.
• Second stage – 40%: Upon submission of the bill of lading, importers may apply for a further payment of up to 40% of the licensed import value.
• Third stage – 30%: Upon obtaining the import declaration, importers may apply for the remaining 30% of the licensed import value.

The CBM will assess each application and arrange the sale of foreign currency to the relevant importers in accordance with the applicable rules and procedures.

Separately, on 5 November 2026, the CBM reminded money changers and authorized banks of their obligation to comply with the exchange rates published daily on the CBM’s FX Online Trading Platform. The CBM further warned that action would be taken under the applicable laws and regulations against entities that fail to comply with the published exchange rates, as well as those conducting foreign exchange business without the requisite license.

In light of the evolving foreign exchange regulatory framework, importers should review their existing payment arrangements and plan their import transactions accordingly.

VDB Loi Myanmar aims to keep you up to date on important regulatory changes that may impact your business and your compliance obligations. If you have questions on these developments or any other matters, please contact the undersigned or your regular VDB Loi adviser.