CNI News

26 August 2023

There are reviews and discussions among the politicians and businessmen relating to what will be affected by the prohibition order of the National Unity Government not to use 20,000 kyat banknotes in the private banks and in the financial service.

Due to the statement, the people may find it difficult and there is a situation in which the banks must use the 20,000 kyat banknotes, said a politician.

Although the NUG has stated not to use 20,000 kyat notes, according to the bank circulation, they must be used, said U Thet Zaw, an economic analyst to CNI News.

The NUG's statement

" To tell you frankly, let me ask you. The words of those who have power and the words of those who don't have power - which ones do you believe. Those who don't have power are saying not use it. It doesn't make sense, I think. An existing government that has power has issued it. Those who want to use it will use although they are told not to use it. Those who believe in the words of the NUG might not use it." he said.

Keeping 20,000 kyat notes in hand, trading the notes and transferring the notes in some way are equal to committing the crimes relating to financial supporting to terrorism which is mentioned in chapter 12 of the anti-terrorism law, stated the NUG. 

If anyone fails to comply with the prohibition order, they will be taken action against in accordance with the anti-terrorism act, said the NUG.

That the prohibition order can be implemented is the answer to the problem, said Dr.Aye Maung, chairman of the Arakan Front Party (AFP) to CNI News.

Design of 20,000 kyat banknote that will issued by the Central Bank

" I can't say what they (NUG) are doing. They have said they will oust the Tatmadaw in 2023. But there is a very wide gap between theory and reality. Goal is like a theory. Only if you can implement, you can get the answer. I think their statement is just fiction." he said.

In commemoration of the completion of the Mara Vijaya Buddhist Image and to mark the white elephant's first year birthday, new 20,000 kyat notes will be issued in a limited number on 31st July, 2023, the Central Bank announced on 23rd July, 2023.

20,000 kyat notes to be issued on 31st July, 2023 by the Central Bank are designated as illegal banknotes, the NUG stated on 27th July.