- Web Master
- May 18, 2024
Naung Min Thu, Narinjara News, 9 May 2024
As the Arakha Army (AA) fighters have approached
Maungdaw of Rakhine State on western Myanmar border,
the junta forces have transferred money from the Maungdaw branch of Myanma
Economic Bank to Sittwe using a landing craft, said the bank employees.
Initially the bank kept the money in the treasury of
the 2nd border guard police battalion. But when the battalion faced drone
attacks, it was shifted to the 5th border guard police battalion at the
entrance of Maungdaw. Later it was transported via a landing craft from Kanyin
Chaung jetty on 6 May. Next day, family members of the battalion and bank staff
were also shifted to Sittwe.
A bank employee, who requested anonymity, revealed
that the shifted amount would be Kyats 1,462,477,000.
The initiative was taken following the closure of
banks. Now the depositors are facing difficulties in withdrawing their
money.
"As the bank is closed, I can't withdraw my
money, which I deposited in Kanbawza bank. The withdrawals from Kpay
incur high fees up to 12 percent. The money, deposited in Myanma Economic Bank,
remains inaccessible due to its closure. Now I can not get the money even
in an emergency situation,” said a resident.
He also apprehended that the closure of Myanma
Economic Bank’s Maungdaw branch will create difficulties for the employees in
particular and the local residents in general.