CNI News

28 August 2023

The State Administration Council (SAC) has reported that it didn't inspect the Unite Amara Bank (UAB) although reports that the UAB was being inspected came out.

According to some news agencies and social media, security forces were inspecting the UAB. Some news agencies and social media were reporting that the UAB was being inspected, which were fake news only, said the SAC to news media.

When the banks were mainly attacked to cause the country's economy to collapse, although the Central Bank provided support to the banks, some banks were not faithful, said Maj-Gen Zaw Min Tun at the 22nd news conference of the SAC held on 22nd August, 2023.

Some banks were not honestly performing and they must be systematically watched, said Sr-Gen Min Aung Hlaing, chairman of the SAC at the meeting of the Economic Committee held on 25th August. Soon after that, reports that the UAB was being inspected by the SAC came out.