Myanmar May Flower Bank
Appearance
Industry | Banking |
---|---|
Founded | 1994 |
Founder | Kyaw Myint |
Defunct | 2005 |
Fate | Dissolved |
Headquarters | , |
Myanmar May Flower Bank was a bank of Myanmar. Founded in 1994 by Kyaw Myint, it was formerly the third largest bank in the country with ten branches.[1] It has, like Banco Delta Asia, been designated as a "primary money laundering concern" by the United States Treasury and thus is subject to very strict regulations in its dealings with American banks.[2] The bank's license was revoked by government authorities in March 2005 following a money laundering investigation.[3][4]
References
[edit]- ^ "Burmese Tycoons Part II". The Irrawaddy. July 2000. Archived from the original on September 20, 2010. Retrieved August 9, 2009.
- ^ "USA Patriot Act: Section 311". Archived from the original on 2013-10-04. Retrieved 2013-10-07.
- ^ "Myanmar private bank owner charged under money laundering laws". Xinhua. 2 April 2007. Retrieved 2 July 2015.
- ^ "Myanmar government closes suspect banks". Taipei Times. 3 April 2005. Retrieved 2 July 2015.