3.2.2 Design Policy
To promote Phase 2 development and effectively use grant aid, it is important to
select a pragmatic approach and solutions based on the situation in the Myanmar
financial sector instead of simply covering previous all requirements. According to
these requirements and considering the challenges in 1.1.2 or the change of
environment in 1.2, the following must be noted as the basic policy for implementing
Phase 2 development:
Consider that an enhancement by Phase 2 development to be a key driver for
the accelerating use of CBM-NET
Consider the current situation of settlement business processes and practices of
CBM and FIs
Communicate with stakeholders (especially with user FIs) and share the
progress, technical information, and issues with them
Consider a reduction in operating and maintenance costs and then make a choice
for easy maintenance and flexible infrastructure to reduce the burden of IT
officials of CBM
Refer the trend of neighborhood and relevant institutes
The major policy for systemization of central banking in Myanmar is to introduce a
system that adopts the following functions, facilities, and technologies.
Table 3-4 Design policy for CBM-NET Phase 2
Design policy
To adopt
international
standard
Efficient for high
volume
transaction
Approach
Support of ISO 20022 standard
Since ISO 20022 is an international standard which will be used
for cross-border transactions and massages related to crossborder transactions, it should be supported on related messages.
Introduction of STP
To pursue the goal of handling more transactions, STP should be
promoted to FIs which have CBS and wish to connect.
To take in the participation and utilization of FIs who have
strong active needs, the modification of CBS for connecting STP
should be borne by FIs.
Introduction of Liquidity saving features and message queuing
To promote the use of CBM-NET, this function will be
implemented with consideration of the operation suitability in
Myanmar (ex. to integrates with RTGS account to simplify the
operation work for FIs, etc.).
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