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
Freedom of religion in Myanmar member of the Phawkkan Evangelical Church. Yeh Zaw had earlier written a letter to the regime leader urging him to end the persecution of his church that Rangoon authorities closed earlier in 2006, banning members from worshipping there. Police charged him with travelling without an identity card. In 2005 local authorities in the Chin State capital of Hakha notified Baptist leaders that they would be forced to relocate an active, historic cemetery from church property to a remote location outside of town. Religious leaders reported that authorities continued to forcefully relocate cemeteries in many parts of the country. In the