Sources close to regime said that customers of the Kanbaza Bank withdrew saving and other business accounts unusually. Since yesterday, the customers have withdrawn, and today more customers came to the Kanbawza branches and headquarters for withdrawing.
Security has been tightening more than usual in Rangoon; mainly downtown area and other intersections since Sunday.
Rumors said that Banker, who is closed to SPDC second man, vice senior general Maung Aye, was being investigated for illicit drug related money laundering and bank would be nationalized soon. Rangoon Business community worried that this was a part of the power struggle between top two and it could negatively affect the economy which has already been worsen.
Mizzima News also carried this rumor and bank official denied the rumor on 29th July. However, close to the regime said that Kanbawza Bank situation wasn’t normal and known as a hardliner, information minister general Kyaw San’s office did investigate the bank functions, customers’ lists and regulations.
This counter investigation without approving from the home ministry was questioned; information ministry has no right to investigate the bank’s regulation and its customers’ lists.
However, there were similar cases during last year, when government mouthpiece newspapers carried news of investigation against the 88 generation student leaders without knowledge of police Special Branch and other security officials besides regular propaganda articles.
