Security Forces open fire on KBZ Bank at Ocean Center, Mawlamyine – Monnews

Security forces opened fire at the  KBZ Bank at around noon (April 29) located inside  the Ocean Center, in Mawlamyine.

According to one person who was at the bank, security forces appeared to have opened fire in an attempt to  control people who were withdrawing their money from the bank.

The witness said, “When the bank opened at about 11:50, people were piling up at the entrance. So the police kept them under control, but in the end they could not control it. They fired a shot and threatened the crowd. The threat reduced the crowd a little, but many people remained. And then the security forces opened fire again. It was like they were shooting people at gunpoint.”

There were no reports of any injuries.

Since March 1, withdrawals from banks across Myanmar have been restricted to a maximum of 10 lakh kyats per week per person. Entrepreneurs are allowed to withdraw a maximum of 100 lakh kyats. Those who want to withdraw money face long  lines at banks and ATMs.

The Central Bank issued a statement yesterday, April 27, stating that new bank accounts can be opened beginning on May 3. New accounts will not be subject to these limits. 

The State Administration Council (Military Council) has restricted withdrawals made at banks, allowing only small quantities to be withdrawn.  In addition the SAC has imposed further limits on what can be withdrawn at ATMs.

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