Legal Framework

This chapter examines the legal system of Myanmar, focusing on changes arising from the Myanmar Company Law and efforts to open up to foreign investment. Crucially, the banking sector has reduced restrictions on foreign participation and introduced the Mobile Financial Services Regulations in an effort to increase banking penetration. The chapter also outlines the measures introduced to enhance transparency and improve consumer protection, and details the terms of the Anti-Money Laundering Order introduced in November 2019, as well as anti-terrorism and trade liberalisation measures. Key points in this chapter refer to the opening of the insurance sector and the Yangon Stock Exchange to foreign participation. This chapter contains a viewpoint from Cheah Swee Gim, Director, Kelvin Chia Yangon.