• Personal Banking
  • Accounts
  • Foreign Currency Account

Foreign Currency Account (Current Account)

    (1) Clients holding the foreign currency legally can open the foreign currency current account under these currencies :-

  • United States Dollar (USD)
  • Euro Currency (EUR)
  • Singapore Dollar (SGD)
  • Thailand Baht (THB)
  • (2) Initial deposit for each currency is 100$ Unit per currency

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Opening an Account

The account can be opened as individual, joint or company/ Association Account. Opening FCA requires at least (USD/ EURO/ SGD - 100 units). Foreign Companies (Incorporate in Myanmar) and Foreign Companies Branch Offices Account can open Current A/C. Company's A/C opening, required documents are as follows :-

  • 1. Certificate of Registration of Branch Office in Myanmar Issued by the Directorate of Investment & Companies Administration (DICA).
  • 2. Certificate of Registration of Documents (CRD) Issued by the DICA. (Temporary certificate is acceptable)
  • 3. To fill in the bank form of BOD’s resolution
  • 4. Certificate of Incorporation
  • 5. Export / Import Registration copy
  • 6. Memorandum of Association & Article of Association Duplicate
  • 7. Board of Directors Resolution for financial Authorized person
  • 8. List of shareholders and share allotted (Form IV) and List of Directors, Managers, Managing Agent (Form - XXVI)
  • 9. Certificate of Registration of Documents copy
  • 10. Initial deposit amount with USD.100 (or) EUR.100 (or) SGD.100

Types of Demand Deposit Accounts

The following types of demand deposit accounts can be opened.

National Company Limited and Partnership Joint Venture Account / Co-operative / Society Account other Societies Foreign Companies Account Foreign Investors Account National Individual & Joint Account (Personal Account) Foreigner Individual & Joint Account (Personal Account)
Certificate of Incorporation
Exporter – Importer Registration Certificate
Memorandum of Association & Article of Association
Form (6) and Form (26)
Board of Director’s Resolution / Meeting minutes
Specimen Signature Card Signed by the Authorized persons
Initial Deposit Unit-100
Permit to Trade
National Registration Card / Pass-port
Overseas migrant workers & sea-men the endorsement labour and shipping agency department
Documents for the source of Income

Deposit

You can deposit unlimited amount in the account.

Cash withdrawal

You can withdraw for foreign currencies is as below.

  • a) 10,000 unit per/day
  • b) You can withdraw daily but not exceeding than 10,000 per unit.
  • c) The minimum amount of balance in account is (USD/ EURO/ SGD - 20 units).

Account Transfer

You can transfer from your own account to another account by Internal Book Transfer. Transfer between MICB and MFTB Bank can be done as required.

  • Transfering from account to account.
  • Transfering bank account to other bank account. ( Between MICB and MFTB)

National Company Limited

  • 1. Certificate of Registration of Branch Office in Myanmar Issued by the Directorate of Investment & Companies Administration (DICA).
  • 2. Certificate of Registration of Documents (CRD) Issued by the DICA. (Temporary certificate is acceptable.)
  • 3. To fill in the bank form of BOD’s resolution
  • 4. Certificate of Incorporation
  • 5. Export / Import Registration copy
  • 6. Memorandum of Association & Article of Association Duplicate
  • 7. Board of Directors Resolution for financial Authorized person
  • 8. List of shareholders and share allotted (Form IV) and List of Directors, Managers, Managing Agent (Form - XXVI)
  • 9. Certificate of Registration of Documents copy
  • 10. Initial deposit is USD 100 (or) EUR 100 (or) SGD 100.

National Sole Proprietorship

  • 1. To fill out the account opening application form
  • 2. To obtain specimen signature which is verified
  • 3. Import/Export Registration, Business agent license, hotels and tourism department of a hotel and travel permits issued, hotels permission issued by a municipal group ( A copy of the original and filtered to obtain confirmation)
  • 4. The stamp owned by national sole proprietorship is used on the account opening form and specimen signature
  • 5. Initial deposit for each currency is 100/- USD (or) EURO (or) SGD.

Partnership (National)

  • 1. To fill out the account opening application form
  • 2. To obtain specimen signature which is verified
  • 3. A Copy of Partnership Firm Registration
  • 4. Partnership Agreement Registred.
  • 5. To fill out the letter of partnership prescribed by bank.
  • 6. Initial deposit for each currency is 100/- USD (or) EURO (or) SGD.

National Personal Individual & Joint Account

  • 1. To fill out the account opening application form
  • 2. The introducer’s declaration is properly filled out (The customer is needed to be introduced by the bank account holder or if he is known well by bank officer, the verification is needed.)
  • 3. To obtain specimen signature which is verified
  • 4. Securities available evidence (employment, the rent contract if you rent)
  • 5. Initial deposit for each currency is 100/- USD (or) EURO (or) SGD.

Foreigner Personal Individual & Joint Account

  • 1. To fill out the account opening application form
  • 2. Introducer’s declaration is taken
  • 3. Passport copy
  • 4. To obtain specimen signature which is verified
  • 5. Employment (Resident)
  • 6. Initial deposit for each currency is 100/- USD (or) EURO (or) SGD.

Foreign Investor Established under MIC

  • 1. To fill out the account opening application form
  • 2. To obtain specimen signature which is verified
  • 3. To fill out bank’s BOD Resolution Form
  • 4. A copy of certificate of in corporation
  • 5. A copy of Association of Memorandum
  • 6. A copy of Export-Import Registration
  • 7. A copy of contract signed with State
  • 8. Board of Director’s resolution
  • 9. A copy of order issued by Myanmar Investment Commission
  • 10. Initial deposit is the capital brought from oversea
  • 11. Certificate of registration of documents.
  • 12. Form (6) & Form (18)

Joint Venture

  • 1. To fill out the account opening application form
  • 2. To obtain specimen signature which is verified
  • 3. To fill bank’s BOD Resolution Form
  • 4. Certificate of in corporation copy
  • 5. Form (6) & Form (26) copy
  • 6. A copy of Association of Memorandum
  • 7. A copy of Certificate of registration of documents
  • 8. Submitting BOD Resolution
  • 9. Initial deposit is the paid up capital

Co-operatives

  • 1. To fill out the account opening application form
  • 2. To obtain specimen signature which is verified
  • 3. A copy of Co-operative Association registration
  • 4. Decision of the Executive Committee of co-operative
  • 5. Lists of executive
  • 6. Book of Financial Rules and Regulations
  • 7. Initial deposit for each currency is 100/- USD(or)EURO(or)SGD.

Religious, Social, Culture, Sports Associations

  • 1. To fill out the account opening application form
  • 2. To obtain specimen signature which is verified
  • 3. Order of the Ministry of Finance and Revenue
  • 4. Memorandum of Law(Rules & By Law)
  • 5. Lists of executive committee
  • 6. Book of Financial Rules and Regulations
  • 7. Initial deposit for each currency is 100/- USD(or)EURO(or)SGD.

Foreign Companies

  • 1. To fill out the account opening application form
  • 2. To obtain specimen signature which is verified
  • 3. To fill bank’s BOD Resolution Form
  • 4. A copy of Certificate of in corporation
  • 5. A copy of Certificate of registration of documents
  • 6. Form (6) and Form (18/26)
  • 7. Export-Import Registration
  • 8. Association of Memorandum
  • 9. BOD Resolution
  • 10. Initial deposit must be the capital brought in.

Avaliable Branches for Foreign Currency Account Opening

No Branch No Branch
1 Trade Center (H.O) 29 Laeway Branch
2 H.O Extension 30 Dawei Branch
3 Pazuntaung Branch 31 Thandwe Branch
4 Sayasan Branch 32 Ya Mae Thin Branch
5 Insein Branch 33 Pakokku Branch
6 Thingangyun Branch 34 Muse Branch
7 Kamayut (Shweponenyet) Branch 35 Aung Ban Branch
8 Kamayut (Sinyaydwin) Branch 36 Myawaddy Branch
9 South Okkalapa Branch 37 Sittway Branch
10 Taw Win Center (Mini Branch) 38 Monywa Branch
11 Sakura Tower Branch 39 Kalay Branch
12 Lanmadaw Thanzay Branch 40 Pha-an (2) Branch
13 Thein Phyu Branch 41 Tha Thone Branch
14 Botahtaung Pagoda Street Branch 42 Hsipaw Branch
15 Lanmadaw (6th) Street Branch 43 Bogale Branch
16 Dawpon (1) Branch 44 Nyaung Tone Branch
17 Thiri Yadanar(North Okkalapa) Branch 45 Laputta Branch
18Mandalay (19) Street Branch 46Danubyu Branch
19Mandalay (Manawhayi) Branch 47Kyonpyaw Branch
20Mandalay (Kywe Sekan) Branch 48Maubin Branch
21Mandalay (26th) Street Branch 49Gyobingauk Branch
22Kyaukpadaung Branch 50Tatkon Branch
23Mogoke Branch 51Yenangyaung Branch
24Pyin Oo Lwin Branch 52Aung Lan Branch
25Nyaung Oo Branch 53Taung Thar Branch
26Magway Branch 54Lashio Branch
27Taungdwingyi Branch 55Kyauk Se Branch
28Pyawbwe Branch