Press release

Clearing false statements on uab bank

uab bank Limited has taken note of a defamatory news item circulating in social media concerning Admiral Moe Aung as an owner of the Bank and misleading statements on investigation on the Bank for dollar issues. We wish to categorically state that:

(1) Admiral Moe Aung is neither a Shareholder nor owner of the Bank and is not related or involved with the Bank;
(2) uab bank is not under any investigation by any authority.

We wish to place on record that uab bank is run under strict corporate governance norms with a strong and independent management that comply strictly with Central Bank guidelines. All foreign currency transactions are operated according to the policies and instructions of Central Bank of Myanmar’s online trading system.

We will not hesitate to take legal action against the spread of such false statements. This for the records and attention of the general public and our customers.

27th August 2023