Myanmar Money "the Kyat".
Myanar Money the Kyat.
Where the Myanmar Money "the Kyat" is made.
The Myanmar Money is made in Germany by Giesecke + Devrient one of the leading money printing company worldwide and to protest the recent brutal coup of the Myanmar Military Giesecke + Devrient stops deliveries to banknotes to Myanmar
The military in Myanmar took brutal action against the population after the coup. So far, the Munich company Giesecke + Devrient has supplied the state with material for the production of banknotes. That is now an end: the Munich banknote manufacturer Giesecke + Devrient (G + D) has ceased its business with Myanmar for the time being.
Until now, the company had supplied raw materials and supplies for the manufacture of banknotes in the Myanmar currency, the kyat. After careful examination, the decision was made to suspend business with the state's state printing company, G + D announced.
The company has already restricted relationships in the past few weeks, it said. The reason is the violent action by the security forces against the opposition in the Southeast Asian country, said CEO Ralf Wintergerst. "The excesses of violence were just too much," said the manager. Hundreds of people are believed to have died in protests against the junta in Myanmar since the coup.
The traditional Munich company is one of the world's leading banknote manufacturers and supplies more than a hundred countries. The delivery stop was agreed with the United Nations as well as with German authorities and embassies - Wintergerst did not specify which diplomats from which countries were involved. Wintergerst also did not say how much sales the company would lose with the delivery stop.
Banknote printing machines and cash-related services are still the company's main business. The corona pandemic also left its mark on G + D. Last year sales fell by five percent to 2.3 billion euros