Western Union has terminated its contract with the Tatmadaw-owned Myawaddy Bank, becoming the latest foreign company to disassociate itself from military-associated companies.Western Union, which provides money transfer services, confirmed with rights group Burma Campaign UK on Tuesday its decision to cut ties with the subsidiary bank of the Union of Myanmar Economic Holdings Ltd (UMEHL), one of the two military conglomerates.

The move came after a 2019 August report by the UN-mandated International Independent Fact-Finding Mission on Myanmar that called for sanctions against military-owned businesses and companies with dealings with the military.Western Union is still cooperating with Ayeyarwady Bank, CB Bank, First Private Bank, KBZ Bank, Yoma Bank, UAB Bank and MAB Bank in Myanmar.This is a significant step forward in our campaign to stop international companies funding genocide and crimes against humanity in Burma.

They expect other companies, such as Kirin Holdings of Japan, to follow Western Union’s example and cease doing business with Burma’s army.They 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, referring to the list of international firms which Burma Campaign UK says are doing business with the military or engage in investments involving human rights violations or environmental destruction.

Source: Myanmar Times 

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