Civilian groups call for further sanctions against the military council's two banks and MOGE

Military Council's Myanmar Economic Bank (MEB); To impose sanctions on Myanmar Oil and Natural Gas Industry (MOGE), which is receiving financing from the Agricultural Development Bank (MADB), the local 240 foreign civil society organizations have requested the release today, July 15th.

The military council used tax money from the state-owned bank and MOGE to purchase military equipment, He said that receiving jet fuel and military support has caused serious human rights violations for Burmese people.

After the United States imposed sanctions on two former state-owned banks, the Foreign Trade Bank (MFTB) and the Investment and Commercial Bank (MICB) in 2023, civil groups also said that there is a possibility that the MEB and MADB banks could be used for military financing.

2024, In the report of the United Nations Special Representative for Human Rights on Myanmar released in the last week of June, the Myanmar Economic Bank (MEB) is becoming a major channel for the use of international financial services for the purchase of military weapons.

In addition, civil society organizations have urged MOGE to be fully sanctioned as the UN human rights report states that tax payments by Thai oil and gas company PTT to MOGE are a major source of funding for the military council.

At the same time, civil society organizations also demand that ASEAN member countries deal with PTT and Thai banks' backing of the military council.

The military council often says that international economic sanctions only harm the people.

Myanmar Economic Bank (MEB) government employee salary, The Agricultural Development Bank (MADB) is mainly used for pensions and the financial circulation of the country, and the Agricultural Development Bank (MADB) is mainly used for agriculture loans and agricultural development for farmers all over the country.