Developing Story
Myanmar Shadow Banking and Remittance Networks
Shadow banking networks run by Myanmar exiles, many based in Bangkok, are channeling remittances to families at home while bypassing formal financial systems controlled by the military junta, sustaining civilians while starving the regime of revenue.
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## Overview
Informal shadow banking networks are sustaining Myanmar's economy through remittances from exiles abroad, even as the country's military government struggles with economic isolation following the 2021 coup.
## Key Developments
Myanmar exiles in Bangkok and elsewhere, many of whom fled war, a broken economy, and forced conscription into the military since the 2021 coup, send hard currency back to family members through informal channels (SCMP, October 12). These networks reportedly help sustain ordinary Myanmar citizens while bypassing and effectively starving the military government of formal financial resources.
## Why It Matters
The story highlights how informal financial systems can both support civilian populations and circumvent sanctions-driven isolation of authoritarian regimes, a dynamic relevant to sanctions policy design, regional migration patterns, and Myanmar's prolonged civil conflict.