Banks close and cash runs low in Rakhine State

Residents of the conflict-torn state say they are facing difficulties withdrawing their funds due to cash shortages and bank branches shutting down

Bank branches are closing across Rakhine State, including in townships under the control of the Arakha Army (AA), and residents are facing difficulties withdrawing money due to cash shortages, Myanmar Now has learned. 

The AA has seized the northern Rakhine State townships of Myebon, Minbya, Mrauk-U, Kyauktaw, Pauktaw, Ramree, Ponnagyun, Rathedaung, and Buthidaung, and continues to attack junta camps in the southern parts of the state, particularly in Ann and Thandwe, with further fighting expected in Kyaukphyu and the capital, Sittwe. 

Veteran Rakhine politician and former Myebon parliamentarian Pe Than said that there was no ban on banking operations in townships under the control of the ethnic armed organisation, which until recently had gone by the name Arakan Army. 

However, due to increased fighting between the AA and the military, the banks had closed their posts in several locations. 

“Bank operations stopped because of the. . .

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