Source Title: Myanmar’s banks will be temporarily closed after Myanmar’s military declares a state of emergency
Myanmar’s banks agreed to temporarily shut down all financial services due to poor Internet connectivity in the current political situation, the Myanmar Bankers Association said in a statement, Reuters reported. The statement said banks would apply to the central bank for temporary closure and notify the central bank when they plan to restart services.
Myanmar’s military said in a statement on the 1st that a one-year state of emergency will be implemented in accordance with the provisions of the constitution. A spokesman for the National League for Democracy (NLD) said earlier that Myanmar’s senior minister Aung San Suu Kyi, President Wen Min and some senior NLD officials were detained by the military. (Zhang Ni, overseas)