( VII ) Export Services

MICB is providing Export related banking services under two payment methods which are Advanced Payment system and Letter of Credit (L.C) system.

Export Department provides the following services to their customers.

  • Credit the incoming payments (Advance Payment for Export) to the customers’ accounts
  • Advising of Letters of Credit received from foreign correspondent banks
  • Check the bills presented by the exporters, send to the buyer's bank and collect the reimbursements
  • Credit export bill proceeds to the customers’ accounts

Bank Changes for Export Transactions

  • Charges for inward T.T transaction - USD 15 per transaction
  • L.C Advising Commission - USD 30
  • L.C Amendment Advising Commission - USD 25
  • L.C Cancellation Charges - USD 25
  • Bill Handling Commission - 0.25% of Bill Amount
  • (Minimum USD 50, Maximum USD 1,000)

Since 1st March, 2013, (152) items of goods are allowed to export without export licence. Please find detail Commodity List in the website of Ministry of Commerce - http://www.commerce.gov.mm.