Western Union Drops Military Myawaddy Bank As Its Agent
We have removed Western Union from our Dirty List following confirmation that they have stopped using the military-owned Myawaddy Bank as one of their agents in Burma.
Thank you to everyone who took part in the campaign.
In an email to Burma Campaign UK on 7th
January 2020, Western Union stated: “In Myanmar and other countries in
conflict, Western Union plays a critical role in connecting people – whether
families sending money to loved ones to meet basic needs like healthcare and
food, or humanitarian aid organizations in need of funds for the work on the
ground. Providing these services requires the use of local agents remunerated
by a commission payment. Western Union conducts agent due diligence and
oversight through periodic reviews to determine whether these agents satisfy
relevant regulatory requirements and Western Union policies. As a result of
such a review, Western Union has ended its contract with Myawaddy Bank,
effective immediately.”
Western Union is one of the largest cross
border financial transfer companies in the world. Myawaddy Bank is a subsidiary
of a giant military business conglomerate called Union of Myanmar Economic
Holdings Ltd (UMEHL). Profits from Myawaddy Bank benefit the military.
“Western Union
deserve credit for doing the right thing. They are the biggest company so far
to cut their business ties to the military,” said Mark Farmaner, Director of
Burma Campaign UK. “This is a significant step forward in our campaign to stop
international companies funding genocide and crimes against humanity in Burma. We
will be stepping up pressure on other companies on our ‘Dirty List’ including
Portia Management Services, a British company managing a military owned port in
Yangon.”