Statement (6/2024) Released by Myanmar National Human Rights Commission

Myanmar National Human Rights Commission released a statement regarding the report on Myanmar to the 56th session of the UN Human Rights Council that called for action against international banks, State-owned banks, and several local private banks.

Statement

1. Imposing economic sanction on a country would affect the economic, social, education and health sectors of the country as well as the citizens of its country would face difficulties for their socioeconomic opportunities.
2. The role of banking service is of importance for the countries exercising market economy. Moreover, the socioeconomic status of the citizens and local and foreign trades rely on the banking services.
3. It was learnt that the report on Myanmar to the 56th session of the UN Human Rights Council urged taking immediate actions against international banks, State-owned banks, and several local private banks.
4. The commission analyzed that the sanction imposed on a certain country would affect the economic opportunities of the citizens in the country and harm the development of a State.
5. The Paragraph 2 of the Article 1 of the International Covenant on Economic, Social and Cultural Rights which is the one of International Human Rights Treaties stated that “…In no case may a people be deprived of its own means of subsistence”. From the Human Rights perspective, economic sanctions would cause negative impacts on human society and socio-economic cycle long-lasting. As such, all stake holders need to pay special attention in order to protect basic rights of the citizens.

Myanmar National Human Rights Commission

Date: 1st July 2024

Source: MWD (2-7-2024)

• The role of banking service is of importance for the countries exercising market economy. Moreover, the socioeconomic status of the citizens and local and foreign trades rely on the banking services.
• The sanction imposed on a certain country would affect the economic opportunities of the citizens in the country and harm the development of a State.
• From the Human Rights perspective, economic sanctions would cause negative impacts on human society and socio-economic cycle long-lasting. As such, all stake holders need to pay special attention in order to protect basic rights of the citizens.