Central Bank of Myanmar Governor U Kyaw Kyaw Maung and delegation attended the 48th Asian Clearing Union’s Board of Directors meeting in Paro, Bhutan, from 14 to 15 July.
Attendees at the meeting were the governors, deputy governors and representatives of the central banks of ACU-member countries which include Bangladesh, Bhutan, India, Iran, Myanmar, Nepal, Pakistan, Sri Lanka and Maldives.
During the two-day meeting, attendees discussed the current economic development and future prospects of each member state, ACU’s accomplishments and improvements during the 2018 fiscal year, better efficiency for processing remittances and auditing accounts, controlling banks and financial institutions with designated rules, how central banks can prepare for possible losses that accompany developing financial technology, inviting more members into ACU and ways to strengthen it. —MNA (Translated by Zaw Htet Oo)
