Central Bank of Myanmar Act of Union Bank of Burma 1947" and took over the functions of the Rangoon branches of the Reserve Bank of India. The Union Bank of Burma was opened at the corner of Merchant Road and Sule Pagoda Road and had a sole right of currency issue. CBM has liberalised the financial organisations for competition, efficiency and integration into the regional financial system. As of the end of December 2007, there are 15 domestic private banks and 13 representative offices of foreign banks and three representative offices of foreign insurance companies in Myanmar. According to the changes in the economic
Capital punishment in the Soviet Union Capital punishment in the Soviet Union Capital punishment was a legal penalty in the Soviet Union for most of the country's existence. The legal justification of capital punishment was found in Article 22 of the Fundamental Principles of Criminal Legislation, which stated that the death penalty was permitted "as an exceptional measure of punishment, until its complete abolition". According to Western estimates, in the early 1980s Soviet courts passed around 2,000 death sentences every year, of which two-thirds were commuted to prison terms. The death penalty was not applied to minors or pregnant women. The first person to be sentenced