26 September 2023

MYANMAR: Army takes charge of State-run banks

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In what observers have say is another example of the growing militarisation of life in Myanmar, the country’s ruling junta has appointed 19 army officers to managerial positions at one of the country’s State-run banks.

The information, which appeared in a gazette published by the Military Council, noted that the officers included five majors appointed as managers at the Myanmar Economic Bank (MEB) and 14 captains appointed as assistant managers.

No details about their previous assignments were provided.

It was a longstanding norm in Myanmar for military officers to dominate Ministries during the country’s previous juntas, which almost exclusively appointed retired or in-service military officials to top administrative positions.

Beginning in 2011, some gradual progress toward civilian control of the administration and State-owned institutions occurred under the Governments led by Thein Sein and Aung San Suu Kyi. This came to a halt with the coup of February 2021.

With many Public Servants supporting the strikes organised by the Civil Disobedience Movement after the coup, the junta quickly replaced them with military officials.

The MEB currently operates under the Ministry of Planning and Finance. The bank has 315 open branches throughout the country and has a key role in managing wage disbursement for several regime-controlled Public Service Departments as well as other everyday transactions.

One businessman, who spoke on condition of anonymity, said the appointment of the officers was based not on merit, but on the junta’s desire for direct control over the country’s finances.

“This is exactly why our country is in ruins. The country’s military officers lack the necessary expertise and understanding. They only know how to accept bribes, not how to manage business,” the businessman said.

He said it was the junta’s custom to appoint retired military officers as Deputy Directors and Directors of Public Service Departments.

Naypyidaw, 12 May 2023

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