Deposition of the Export Earnings for the Export Companies in Myanmar
INTRODUCTION
Before 2026, the Central Bank of Myanmar issued several notifications specifying percentage of the export earnings that export companies were required to deposit. Pursuant to these notifications, exporters were required to deposit a specified portion of their total export earnings for conversion into Myanmar currency, namely 65% (August 2022), 50% and 35% (July and December 2023, respectively) and 25% (August 2024).
KEY PROVISIONS
A. Regulatory Framework
On 7 January 2026, the Central Bank of Myanmar issued Notification No.2/2026 which amended the required amount of export earnings that export companies must deposit into their corporate bank accounts in Myanmar. According to the notification, the required deposit amount is 15% of the export earnings.
The purpose of the above-mentioned notification is to ease the foreign exchange conversion obligations imposed on exporters by reducing the mandatory conversion rate from 25% to 15%. This measure allows exporters to retain a larger portion of their export earnings in foreign currency thereby facilitating international trade operations and improving foreign currency liquidity management for business.
B. Repatriation Period for Export Earnings
On 12 December 2023, the Central Bank of Myanmar amended the repatriation period for export earnings under Notification No.27/2023. Export earnings must be repatriated into Myanmar within 30 days from the date of exportation for Asian Countries and within 60 days for Non-Asian Countries. Previously, export earnings were required to repatriated within 45 days for Asian Countries and 90 days for Non-Asian Countries starting from the date of exportation.
C. Deposition Timeframe
Although the required export earnings deposit amount has been amended, the deadline to deposit export earnings into the export company’s foreign currency bank account opened at the Authorized Dealer Banks (AD Banks) for the purpose of converting foreign currency export earnings into Myanmar currency remains unchanged. This requirement is still within one working day as specified in the Notification No.12/2022 of the Central Bank of Myanmar. Therefore, export earnings must be deposited into the bank account within the above mention period and must be deposited into bank account within one working day for conversion.
D. Compulsory Conversion of Export Earning into MMK
If the export earnings are received in USD, it must be converted into MMK according to the exchange rate specified in Directive No.10/2022 of the Central Bank of Myanmar. The prescribed exchange rate is 2100 MMK per 1 USD.
E. Suspension of Exporter/Importer Registration Certificate
Under the announcement issued by the Ministry of Commerce of Myanmar dated in 6 October 2023, the Department of Trade will inform to the Republic of The Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) regarding the list of companies that fail to deposit the export earnings within the specified period after exportation as forwarded by the Central Bank of Myanmar. In addition, the company and its Board of Directors shall be blacklisted in accordance with the Compliance Guidelines for Exporters regarding Export Proceeds issued by the Central Bank of Myanmar on 22 August 2025.
F. Consequences of Continued Non-Compliance
If export earnings are not deposited within two weeks after the informed, the Department of Trade shall suspend the company’s Exporter/Importer Registration Certificate. If the company continues to fail to deposit export earnings after suspension, it may face criminal proceeding under section 42-A of the Foreign Exchange Management Law 2012 (amended in 2015 and 2021) which is punishable by imprisonment for a term not exceeding one year, or a fine, or both.
Although the amount of the fine is not prescribed under Section 42-A of the Foreign Exchange Management Law (as amended in 2015 and 2021), judges may impose a fine based on their discretion and consideration on a case-by-case basis.
Under Section 64 of the Penal Code of Myanmar 1861 (as amended up to 2021), the amount of the fine is not specified but it must not be excessive.
CONCLUSION
Myanmar’s 2026 export earnings rules strike a balance between easing burdens and enforcing discipline. The reduced 15% deposit requirement gives exporters more flexibility, but strict deadlines and penalties remain. Success lies in using the added liquidity to expand trade while maintaining full compliance to avoid suspension or liability.
At ILAW Myanmar, we assist exporters by providing practical guidance on compliance, advising on repatriation and deposit procedures, and assisting companies in managing regulatory risks.
