The Myanmar Economic Bank owned by the government located on Thuhmingalar Street, west of Kyiakkasan war, was robbed at about 9 p.m. on Tuesday.
An eyewitness told Mizzima that the robber ran along the Thuhmingalar Street after stabbing the bank employee.
The Mizzima correspondent who visited the site saw about a dozen security personnel in mufti holding walkie-talkie sets near the bank.
"Security was tightened at the bank today and all transactions have been reportedly halted," he said.
The dead bank employee has not been identified yet. The bank is located in a commercial sector with not many residents living in the area.
A source told Mizzima that 900 million Kyat (approximately $820,000) was looted from the bank but there was no independent confirmation of this.
With the Thingankyun police station out of reach, information on the robbery could not be verified.
Mizzima is continuing to gather and verify news related to the robbery.
