Police say the two were apprehended after a study of two CCTV security cameras installed nearby.

Police confirmed that the two suspects were arrested in their homes, but declined to give their identities.

Nationalist monk U Wirathu has already denounced the attack as an act of terrorism and blamed it on Muslim extremists in collusion with followers of TIME magazine, which recently wrote a cover article criticizing the outspoken monk.

The explosion from the bomb, which was reportedly thrown under a car, injured a monk, three women and one man. The monk and one woman have already been discharged from hospital, police say. The two remaining women are currently undergoing surgery to remove shrapnel from their legs.

Police said that henceforth they will be beefing up security at similar rallies and events.