As the Arakan Army (AA) is approaching near Maungdaw in Arakan State, the junta forces have transferred cash from Myanma Economic Bank (branch) in Maungdaw to Sittwe using a landing craft, said the bank community.
“The bank kept the cash in the vault at the border guard police battalion No.2 known as 4th Mile Battalion. After a drone attack on the border guard police battalion No.2, the cash was moved to border guard police battalion No.5 at the entrance to Maungdaw. As border guard police battalion No.5 faces losses, the cash was moved to the vessel through Kanyinchaung jetty, on 6 May,” said a bank staff.
On 7 May, family members of the battalion and bank staff were also moved to Sittwe, with the landing craft, a bank staff said.
A bank staff, who requested anonymity, confirmed that the amount moved from the MEB would be Ks-1,462,477,000.
The depositors are facing difficulties in withdrawing their money during the war as the banks are closed following the transfer of money to Sittwe.
A local female teacher said, “I can’t withdraw my money deposited at Kanbawza bank as the bank is closed. I have to pay a commission of up to 12 percent when I withdraw money from KBZpay. Now the money deposited in the MEB can no longer be withdrawn. The bank is also closed. I found it quite difficult as I can’t withdraw money deposited for emergency use in wartime.”
Due to the closure of the MEB in Maungdaw, staff in Maungdaw could face livelihood difficulties. As a result, all staff may flee the town, said local residents.
Sent by Narinjara
