The Myanmar military controls large swaths of the national economy through ownership of the financial sector, as well as resource sectors such as copper, energy, oil and gas reserves, jade and ruby mines, ports, and telecommunications.
An Indian technology firm formerly chaired by UK Chancellor Rishi Sunak’s billionaire father-in-law has been criticised for maintaining business relations with Myanmar generals after a military coup overthrew the elected government in Naypyitaw last week.
Infosys, which was co-founded by Narayana Murthy 40 years ago, provided software services to a Myanmar bank controlled by a military conglomerate headed by coup leader General Min Aung Hlaing.
Myawaddy Bank falls under Myanmar Economic Holdings Limited (MEHL), an enterprise run by the military, which has been accused by the UN of “engaging in genocide, war crimes, and crimes against humanity.”
International and Domestic Pressure
Democracy advocacy group Burma Campaign UK put Infosys on its “dirty list” of foreign companies profiting from doing business with Myanmar’s military rulers. Following the coup on Monday and the toppling of Aung San Suu Kyi, the Bangalore-based firm has continued to engage in commerce with the bank.
Activist Group Justice for Myanmar claims the bank is shady and says it’s concerning that it’s a member of the Society for Worldwide Interbank Financial Telecommunication (SWIFT) – the international transfer network.
Thousands of activists in Myanmar are…