Small and medium-sized business, merchants and ordinary persons are facing difficulty as the only cash withdrawal services are available at the banks.

An accountant from a soft drink company said: “I have to transfer millions of Kyats to headquarters in Yangon every day. There will be a shortage of stocks as the Thingyan (water) festival is drawing near. I face many difficulties as I can only withdraw money. I have to transfer money to my headquarters through my friends who go to Yangon.”

Since March 1st, the Central Bank of Myanmar has allowed the people to withdraw at most two million Kyats in a week, and the companies, businesses and organizations to withdraw at most 20 million Kyats in a week.

Due to the internet shutdown, people find it difficult to use the mobile banking system. They are waiting in line for many hours to withdraw money at the ATM or banks.

A bank customer said: “Banks are providing services through the token system. I have to wait for many hours to get a token. Banks told the people to withdraw money in the next three or four days.”

Banking services stopped as the staff from the private banks joined the Civil Disobedience Movement (CDM) after the army seized the country’s power. Limited banking services are available, although most private banks can resume their operations.