Monday 28 October 2013

CBM deputy resigns

Central Bank deputy governor U Than Nyein has resigned, state-run media reported on October 24.

Governor of the Bank since 2007, U Than Nyein had been serving as deputy governor since July following reorganisation of the board of directors. Though he reportedly stood down a month ago, the president’s office has just issued the announcement.

The governor of the Bank is U Kyaw Kyaw Maung, a former

chairman of the central bank from 1999 to 2004, and the other two deputy governors are U Set Aung and Daw Khin Saw Oo.

Though an expert in banking, U Than Nyein was reported as saying that his apparent demotion was intended to head off criticism from international and other observers of his military background.

Under the law governing the central bank, the chairman serves for five years and other senior officials for four years. Both the chairman and vice-chairman have ministerial rank in the office of the president.

source: The Myanmar Times
http://www.mmtimes.com/index.php/business/8603-cbm-deputy-resigns.html 

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