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Amid steep inflation and a freefalling economy, Myanmar banks have begun restricting the amounts of cash that can be withdrawn daily, according to residents, a bank branch, and a bank officer who told Radio Free Asia it was to prevent a bank run.
“People have experienced more anxiety,” the bank officer said, referring to the country’s economic situation.
“We have restricted the amount of daily withdrawal — as any bank does not have enough cash for massive withdrawal — to prevent the collapse of banks,” he said, speaking anonymously for security reasons.
Yangon residents, who also asked to remain anonymous for security, told RFA that restrictions began at the start of this week.
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