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KBZ financial institution introduced that its prospects can now withdraw money from their private financial institution with none withdrawal quantity limitation, but it surely solely applies to the money newly deposited into the checking account, to not the beforehand deposited remaining steadiness within the checking account.
The KBZ financial institution introduced it on Fb and the remark session of the announcement was flooded with backlashes from the netizens because it doesn’t permit beforehand deposited financial institution balances to be withdrawn with out limitation.
As the purchasers tried to withdraw cash from the checking account following the army takeover, all of the banks began to impose limitations on money withdrawals, firstly, from the ATMs and, then, from the checking account after banks have been unable to place more money into the ATM machines.
The limitation on money withdrawal remained till at this time and prospects are reluctant to deposit their money, which can’t withdraw at their will. To usher in money, banks launched a program during which prospects open new financial institution accounts from which they’ll withdraw money with out limitation however provided that they’ve deposited it in money.
Furthermore, the Myanmar Kyat additionally devalued reaching over MMK2,000 per greenback in comparison with beneath MMK1,500 per greenback earlier than February 2021.
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