Mizzima
A group of unidentified armed men robbed a branch of the Innwa Bank in Monywa Town, Sagaing Region they took cash and office supplies and abducted the bank manager.
The robbery of the Innwa Bank branch on Bokyoke Street in Monywa Town, which is close to City Hall where junta troops are stationed, happened at about 1:00 pm on 13 March.
According to sources in Monywa, the robbers escaped with 30 million Kyats, as well as laptops, cell phones, and other office supplies. They also took the female bank manager with them. There is no news about any casualties or injuries occurring during the robbery.
An eyewitness said, “The bank manager was kidnapped during the robbery. I witnessed the perpetrators seizing office equipment and money. Security measures were heightened in the vicinity following the incident on 13 March.”
Following the robbery junta soldiers cordoned off Bokyoke Street and carried out investigations and questioned pedestrians for two hours.
Innwa Bank was founded by the Myanmar Economic Corporation (MEC) in 1997. MEC is a major military conglomerate owned by serving and retired junta army officers and it is affiliated with the junta’s Ministry of Defence. The bank serves as a financial vehicle for MEC’s subsidiaries and affiliates. MEC was sanctioned by the US, EU and UK in March and April 2022.
Innwa Bank is a key financial institution of the Myanmar military. The junta and its top generals use Innwa Bank to pay salaries for military officers, to transfer funds to military units and to sustain military-controlled businesses, according to Justice for Myanmar.
