The Government of National Unity announced that it had confiscated assets belonging to the Burmese military dictatorship in several banks. And using the bank they created to take care of these seized assets, the “national budget.”
Image source: Government of National Unity (quoted by The Irrawaddy)
The Government of National Unity, the shadow government formed by the anti-dictatorship group in Burma to challenge the military dictatorship, the State Administration Council, announced that it would retain the interim central bank established by the Government of National Unity. He manages more than 44 billion kyats (about 736 million baht) seized by opposition forces from five private banks.
More than 32.6 billion kyats (about 545 million baht) were seized from Kanbawza Bank, 9.4 billion kyats from Myanmar APEC Bank, and 1.7 billion kyats from Bank of Ayeyawady, NUG said. million baht), from the Commercial Capital Bank 286 million kyat (about 4.7 million baht). million baht) and from the World Treasury Bank 319 million kyat (about 5.3 million baht) and all the assets seized. This will be used to manage the national budget by ICB Bank.
NUG said evidence showed there had been previous attempts to break into Kawlin Bank’s vaults, and NUG acted quickly to prevent any loss. This is to ensure that the bank’s assets remain safe.
The Government of National Unity announced on November 14 that it had seized more than 900 million kyats (about 15 million baht) from the Myanmar Economic Bank, which is owned by the Burmese military.
On 6 November, the Kachin Independence Army and the People’s Defense Forces captured Kaolin town after four days of fighting.
The Minister of Planning, Finance and Investment of the Government of National Unity and ICB launched the Spring Development Bank in July, which uses cryptocurrencies and blockchain technology to bring capital used for the revolution.
Spring Development Bank said they reached their goal of raising US$10 million (about 35 million baht) within 10 days of the initial public offering on November 17. This has attracted more than 80,000 members from several countries since its launch.
Compiled from
Myanmar civilian government takes control of confiscated funds, The Irrawaddy, 01-12-2023
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