THE Central Bank of Myanmar held the coordination meeting with Yangon Branch and Mandalay Branch yesterday morning in Nay Pyi Taw. The meeting was attended by Governor of the Central Bank of Myanmar U Than Nyein, Vice-Governors U Win Thaw and Daw Than Than Swe, Directors-General and Deputy Director-General. At the meeting, the Governor said the instructions of the Chairman of the State Administration Council are distributed to the relevant departments. He said it is important to act in good faith within the rules to ensure that the work of all departments is not interrupted while the State is being normalized and to successfully implement the State policies. He added it is important for the staff to be free from party politics and to cooperate with the relevant departments. The Central Bank of Myanmar has been making efforts to stabilize the financial system and strengthen efficient and effective payment and clearing systems as the development of a secure and efficient national payment system plays an important role in Myanmar’s financial and economic system. The National Payment System Strategy (2020-2025) has been enacted to support the development of payment systems and the payment system law has been drafted. The Inter-Bank Payment System (CBMNET) System Second Phase and Automated Clearing System (ACH) have been implemented to facilitate payments and clearing systems for large-scale payments, allowing digital payment enhancement services. The Governor said Myanmar is cooperating with the ASEAN member countries for the development of payment system and at present, the Central Bank of Myanmar has instructed banks to take temporary action to improve the cash management of banks and nonbank financial institutions. The Vice-Governors and officials also discussed matters related to their responsibilities. MNA #The Global New Light of Myanmar