Banks closed, ATMs shut down in Myanmar following military coup

Following the military coup banks in Myanmar have been temporarily shut down due to major disruptions of internet services, according to media reports.

According to a report by The Myanmar Times, banks under the Myanmar Banking Association have announced a unified closure from February 1.

Besides, the ATM machines of major banks are also not operating in Yangon.

A poor internet connection linked to the state of emergency also affected operations of construction sites in Yangon, and many supermarkets in the city decided to cut opening hours and called on residents to refrain from panic buying, Sputnik reported.

Telecommunications in the capital city of Naypyitaw and some other regions and states have also been cut off.

Earlier, the Myanmar military declared a state of emergency in the country for one year, following the coup, where Aung San Suu Kyi, President U Win Myint and other senior officials have been detained by the military.

The state power has been handed over to Commander-in-Chief of Defense Services Min Aung Hlaing, while Myanmar’s first Vice-President Myint Swe will serve as the acting president of the country.

The newly-elected lower house of the parliament was due to convene on Monday, however, the military called for a postponement.

The Myanmar military said on Monday the new election in the country will be held after the end of one-year emergency, which was imposed earlier in the day following the coup by the army leadership. (ANI)