Services

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Services of Myanma Foreign Trade Bank


Ministry of Planning and Finance / August 06, 2020

Myanma Foreign Trade Bank

Providing services such as;

  1. Opening Current Account, Account Transfer and Fixed Deposit USD Account
  2. Opening Saving A/C, Fixed Deposit USD Account and Current MMK A/C for individual and MPU, ATM Card
  3. Cash Payment and Cash withdrawl
  4. Foreign Remittance Inward and Foreign Remittance Outward
  5. Guarantee Issuing From Oversea, Guarantee Advising, Guarantee Confirming, Bank Guarantee with Kyats or foreign currency in domestic
  6. Export L/C advising, Export L/C Negotiation, Export Trade Financing
  7. Opening of letter of Credit to Foreign Bank Import Bill Releasing and Paying, Payment for Document Against Payment/ Document Against Acceptance Services, Shipping Guarantee Releasing and Trade Financing Service
  8. We are trading Foreign Currency buying and selling for USD, EUR, SGD currency with daily exchange rate which was issued by MFTB
  9. Customer are provided between MFTB and Internet wallet Myanmar Ltd, for cash in / cash out services

Basic Requirement

(1) (a)National Account / Personal Account’s Requirement as follows;

  • Application Letter
  • National Registration Card Copy
  • Evidence of Foreign Exchange Earning (eg; appointment letter, rental contract)
  • (2) Introducers
  • Initial Deposit (minimum 100 Units of Currency)
  • (2) Photos

 

(b)Embassy Account’s Requirement as follows;

  • Embassy Application Letter
  • Ministry of foreign Affairs letter
  • Ministry of Planning, Finance and Industry letter
  • Initial Deposit (Minimum 100 Units of Currency)
  • Passport Copy and Visa Copy
  • (2) Photos for each authorized persons

 

(2) Limited Company (Myanmar/Foreign) Co-Operative society, Partnership Account’s    Requirement as follows;

  • Application Letter
  • Board of Director Resolution (Meeting Minutes)
  • Myanmar Companies Online (MYCO) Company Profile
  • Company Registration card
  • Certificate of Export/Import Registration
  • Passport Copy and Visa Copy
  • Initial Deposit (Minimum 100 Units of Currency)
  • (2) Photos for each authorized persons
  • Over (18)year olds for individual

 (3)(a)Required documents for opening account

  • Individual

(1) Original and Copy of National Registration Card

(2) Application Form

  (3) If deposit money is above (10) million, it needs to submit required     documents   for income source.

-Initial Deposit- 1000 MMK

-Minimum Balance - 1000 MMK

-Interest rate (per annum) - 5%

  • Calculation of Interest

Interest is calculated upon minimum balance between 4th and end of day of   every month Interest is paid once in six months. (2 times per a year)

(b) Fixed Deposit Kyat Account

Eligible Person for opening account

  • Over (18 ) year olds for individual

Required documents for opening account

  • Individual

 (1) Original and Copy of National Registration Card

(2) Application Form

(3) If deposit money is above (10) million, it needs to submit required      documents for income source.

  • Company/ Institution

(1) Company registration documents.

(2) Board of Director Resolution (Meeting minutes) for account opening.

(3) Application Letter with Company's letter head

(4) Authorized Person's, NRC card (original and one copy )

(5) Previous budget year's Financial Statement

(6)If deposit money is above (10) million, it needs to submit evidence  documents which the company had duly paid all the tax.

  • Deposit (Minimum)

- Individual - 100,000 MMK

- Company / Institution - 1,000,000 MMK

  • Interest

- (3) months Deposit - 6% (per annum)

- (6) months Deposit - 6.5%

- (9) months Deposit - 7%

(c) For opening MMK personal current account

- Eligible person is over (18) year olds.

- Account holder needs to come to MFTB and needs to present NRC (original and copy).
- Initial deposit for MMK current account is Kyat 10,000.

            Deposit and withdraw can be made by Account holder as well as GP/authorized person with authorization letter .Withdraw can be made by cheque and NRC card.

(d) How to get MFTB ATM Card

  • Fill up required facts.
  • Must be adult over 18 years.
  • After checking the facts filled up by MFTB Bank, bank will open ATM Card Account.

(4) Exchange Control Department

(a) Cash Deposit and Withdrawl Service

 (a.a) Required documents for Governmental-

  1. Ministry Application Letter
  2. Payer Company’s Application Letter
  3. Payer Company’s Registration Copy

(a.b) Required documents for Organizations, Non – Governmental Organizations, International Organizations-

  1. Organization’s Application Letter

(a.c) Require documents for Embassies

   i. Embassies Application Letter

(a.d) Required documents for Airlines-

  1. Airlines Application Letter
  2. Travel & Tour company letter head
  3. Travel & Tour Company’s Registration copy
  4. Travel & Tour Licence

(a.e) Required documents for Gems & Jewellery shop -

  1. Gems Enterprise Cash Deposit Slip
  2. Myanma Gems Enterprise Licence Copy
  3. Myanma Myanma Gems Enterprise ( Cash Memo )
  4. Myanma Foreign Trade Bank pass book copy

(a.f) Required documents for Pagoda Trustee –

    i. Pagoda Trustee Board Application Letter

 

(a.g) Required documents for Cheque Collection-

  1. Customer’s Application Letter
  2. National Registration Card Copy
  3. Myanma Foreign Trade Bank ( pass book Copy )
  4. Cheque Original / Copy

(a.h) Required documents for Withdrawal from FE Permit -

  1. Ministry Application Letter
  2. Budget Department approval Letter
  3. Myanma Economic Bank’s Cheque Original /Copy

(b) Cash Withdraw

(b.a) Required Documents For Imprest -

  1. Budget Department approval Letter
  2. Deputation order
  3. Passport (Original / Copy)
  4. Cheque (or) Cash

(b.b) Required Documents For Outfit -

  1. Application from Ministry of Foreign Affairs
  2. Recommendation of Foreign Affairs
  3. Passport (Original / Copy)
  4. Cheque

(b.c)Required Documents For Air Ticket Transfer -

    1. Budget Department approval Letter & Deputation order (or)   Application and       approval Letter from Ministry of Foreign Affairs
    2. Passport (Original / Copy)
    3. Cheque (or) Cash

 

(c) Inheritance

Required Documents-

(1) Application Form

(2) District of Act 377 (Above USD One Thousand)

(3) Affidavit (Original) (Under USD One Thousand)

(4) Letter of Indemnity (Under USD One Thousand)

(5) Certificate of Registration of Death (Original/Copy)

(6) Family Registration Card (Original/Copy)

(7) Recommendation of Quarter (Original)

(8) National Registration Card (Original/Copy)

         (9) Bank pass book (Original/Copy)          

(5) Remittance Department

      (a) Outward Remittance Service

      The required documents for outward remittance as follows;

(a.a) For Private (Local Firm) & Foreign Firm

  1. Fund Transfer Application
  2. Application Letter
  3. Invoice/Firm Order/Sale Contract
  4. Release Order Notification
  5. Bill Of Lading (Airway Bill/Cargo Receipt)
  6. Packing List
  7. Import License
  8. Bank Passport Copy

(a.b) For Private (Foreign Firm) – (Service Only)

  1. Fund Transfer Application
  2. Application Letter
  3. Contract
  4. Audit Report
  5. Tax (Payment Of Tax)

(a.c) Government

  1. Fund Transfer Application
  2. Application Letter
  3. Form (A) (For Service) (Application For Foreign Exchange Remittance Other than imports)
  4. Form (Tha Ka) (for good)(Application for Foreign Exchange Remittance for Imports)
  5. FE permit (Approved by Ministry of Planning & Finance) (or) (Approved by Union Minister)

 

(b) Inward Remittance Service

Requirement for inward remittance

(b.a) For trade payment

  1. ITTP form
  2. Company’s application
  3. Export license (if necessary)
  4. Export Declaration (ED)
  5. MyCo Company Certificate (Copy)
  6. MyCo Company Profile (Copy)

(b.b) For non-trade payment

  1. ITTP form
  2. Company’s application
  3. Invoice
  4. MyCo Company Certificate (Copy)
  5. MyCo Company Profile (Copy)

(b.c) For capital brought-in

  1. ITTP form
  2. Company’s application
  3. MIC permit/DICA permit
  4. MyCo Company Certificate (Copy)
  5. MyCo Company Profile (Copy)

6. Guarantee Department

    Required documents for your business

    (a) ISSUANCE OF BANK GUARANTEE

  • (a.a) Government / Department
    1. Application and Indemnity Letter of Applicant
    2. Required Guarantee Format
    3. Copy of Contract which have been approved by the abinet
    4. Approval of Ministry of Planning, Finance and Industry
  • (a.b) Private

    (1) Application

           (2) 100% of Bank Guarantee Amount is to be deposited

- Credit Advice for in Cash

- Credit Advice for Telegraphic Transfer

- Pass Book Original and Copy for Account Transfer

           (3)   Copy of Firm Order / Contract

(b) CANCELLATION OF BANK GUARANTEE

  • (b.a) Government / Department

                     (1) Application of Beneficiary and applicant

            (2) Original Bank Guarantee

  • (b.b) Private

             (1) Application

                      (2) Original Bank Guarantee

                      (3)Original Debit Advice (if funds were deposited from company’s FC account)

7. Export Services for exporters

    (a) Require Documents for Export L/C

(1)Company’sLetterHeadApplication
(2)Myanmar Companies Online Registration Certificate

(3)Myanmar Companies Online of Company Profile

(4)Export Licence (or) Non-Licence

(5) Bank Passbook

     (b) Type of export financing

(1) Pre-shipment Export Trade Financing

(2) Post-shipment Export Trade Financing

      (c) Who can apply for export trade financing

The exporters who opened foreign currency account with MFTB can apply export trade financing.

  Requirement documents for applying export trade financing

                    (1) Export trade financing application

                    (2) Trade financing proposal

                    (3) Trade financing agreement

                    (4) Company’s meeting minute

                    (5) Income tax statement for 3 years

                    (6) Audit certificate

8. Import Department

    (a) Require Documents for Import Financing

  • Application letter from Importer
  • Trade Financing Proposal
  • Trade Financing Agreement
  • Meeting minute of B.O.D
  • Tax received for three years
  • Audited Reports for Financial Status.

 

   (b) Required Documents for the Opening of Import Letter of Credit

  • Required Documents for the Opening of Import Letter of Credit (Government)
    • Application Form
    • Import License (Original and Copy)
    • Copy of Proforma Invoice (or) Firm Order (or) Contract
    • Foreign Exchange Permit from Budget Department
  • Required Documents for the Opening of Import Letter of Credit (Private)
    • Application Form
    • Import License (Original and Copy)
    • Copy of Proforma Invoice
    • Debit Authorization Letter
  • Bill Releasing
    • Import License
    • Application
    • Debit Authority for Bill Handling Commission and Bank Charges
    • Letter of Indemnity
    • Form (Tha-Ka)

Location

No. 80/86, Maha Bandoola Garden Street, Lower Block, Kyauktada Township, Yangon Region

Address

No. 80/86, Maha Bandoola Garden Street, Lower Block, Kyauktada Township, Yangon Region

Website Address

www.mmftb.gov.mm



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