Myanmar now has an anti-money laundering watchdog charged by the government with investigating and prosecuting individuals and businesses suspected of illegally processing cash, a report said. The 15-member Anti-Money Laundering Central Board was formed at the end of August and will be led by the Home Affairs Ministry, said Eleven Media quoting a government statement. Its members include the governor of the Central Bank, deputy ministers from the Home Affairs Ministry and the Finance Ministry, the deputy attorney-general and the country’s chief of police. The only non-government official invited onto the board is U Win Aung, the president of the Union of Myanmar Federation of Chambers of Commerce and Industry. “The board has nine tasks, including adopting policies related to anti-money laundering and terrorism financing; taking legal action…in coordination with respective government departments and other agencies; and laying down a national strategy to combat the crime,” said Eleven Media, citing a government gazette statement. —William Boot
Five Airports Get Go-Ahead PHOTO: SIMON ROUGHNEEN
Anti-Money Laundering Watchdog Formed
Five of Myanmar’s 30 small airports have been given approval to proceed with plans to sell or long-lease them to private Heho Airport in Shan State operators, a travel trade report said. The Civil Aviation Department named the five to be privatized as Bagan-Nyaung U, Heho, Tachilek, Thandwe and Kyaukphyu airports. “Bagan-Nyaung U Airport, which has seen a massive influx of tourists, could draw the most attention from private companies,” the chief of the Directorate of Civil Aviation, U Kyaw Soe, was quoted by TTR Weekly as saying. “The Directorate was given the job of overseeing the privatization of 30 airports, which will be leased or sold to private companies,” the trade paper reported. “However, only five of the airports have the green light to negotiate with private firms at present and many of the airports listed are decades away from being profitable ventures.” —William Boot ADVERTISEMENT
October 2014
TheIrrawaddy
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