Monday, May 12, 2008

U.S. Dept. of Treasury Lifts Restrictions on Money Transfers to Myanmar

The U.S. Department of Treasury today lifted the restrictions on personal money transfers for those who have friends and family in Myanmar / Burma:

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC), in consultation with the Department of State, has moved to ease the humanitarian crisis in Burma by removing the limit on funds that U.S. individuals are allowed to send to family and friends in Burma.

"The people of Burma need all the help we can provide during this crisis," said OFAC Director Adam J. Szubin. "This action will speed the flow of aid to the Burmese people by allowing Americans to send an unlimited amount of funds to their relatives and friends who are in need."

This action, made effective by the issuance of General License No. 15, authorizes U.S. financial institutions to process transfers of funds, unlimited in amount, for noncommercial, personal remittances to or from Burma, or for or on behalf of an individual ordinarily resident in Burma. Prior to the issuance of this general license, noncommercial, personal remittances to Burma were only permitted if the total remittances did not exceed $300 per Burmese household in any consecutive three-month period...

(Via World Wide Help)

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