NSS - Sep 21

According to an order issued by the State Administration Council (SAC), General Mya Tun Oo has been appointed to replace Lt. Gen. Moe Myint Tun as the Chairman of the Foreign Exchange Supervision Committee.

The SAC stated that the FESC was established with the purpose of regulating and stabilizing the foreign exchange rate in Myanmar to promote the country's economic development.

The FESC was established in April 2022, with Lieutenant-General Moe Myint Tun serving as the chairman, and the committee included members such as Win Shein, Dr. Pwint San, Dr. Kan Zaw, Thein Nyein, and Aung Naing Oo.

In July 2023, the committee underwent a reform by the SAC, during which Lt. Gen. Moe Myint Tun retained his position as the chairman. Additionally, Minister Win Shein, Lt. Gen. Nyo Saw, Minister Aung Naing Oo, CBM Governor Than Than Swe, and Minister Kan Zaw were also appointed to the committee.

The SAC undertook a subsequent reform of the Committee in a relatively brief period following its previous reformation.

According to the recent reform of the committee, it  will be led by General Mya Tun Oo, Union Minister of Transport and Communications, with Dr. Kan Zaw, Union Minister of Investment and Foreign Economic Relations, and Win Shin, Union Minister of Planning and Finance, as members. Additionally, the committee will also include Lt. Gen. Nyo Saw, an advisor to the Chairman of the State Administration Council; Aung Naing Oo, Union Minister of the Ministry of Commerce; and Daw Than Than Swe, Chairman of the Central Bank of Myanmar.

Lieutenant General Moe Myint Tun is reportedly undergoing interrogation by authorities. He was formerly recognized as a protege of Senior General Min Aung Hlaing, the Chairman of the SAC.

Lieutenant General Moe Myint Tun also held the position of Chairman at the Myanmar Investment Commission (MIC).

Currently, authorities from the SAC is conducting the investigation of Lieutenant General Moe Myint Tun, Major General Yan Naung Soe, as well as several businessmen and other individuals.