The Arakan People’s Revolutionary Government (APRG) opened applications on June 30 for 26 banking professional positions to launch its own financial system in revolutionary groups-controlled areas of Rakhine State, according to an official recruitment announcement.
The vacancies include three township managers, three assistant township managers, and 20 marketing personnel. Candidates can submit their applications to the Arakan Public Service Commission until August 11.
The recruitment marks the latest step in the APRG’s drive to expand self-administration mechanisms across its territory.
The APRG functions as the administrative wing of the Arakan Army (AA), the dominant ethnic armed group in Rakhine State that currently controls 14 townships in the state, alongside Paletwa Township in neighbouring Chin State.
"A financial circulation system is essential to revive the local economy and trade," a source close to the APRG told Mizzima. "Therefore, this banking mechanism is being prepared to stabilize the socio-economic life of Rakhine citizens and support regional development."
Banking operations under the military junta in Rakhine State collapsed or were suspended amid intense clashes in late 2023 and 2024. Since then, the AA and APRG have progressively established territorial security, judicial frameworks, and a taxation system on commodity flows, but economic challenges persist.
"Previously, the closure of banks made money transfers and business operations extremely difficult," a local resident from Mrauk-U Township told Mizzima. "We hope the restoration of a banking system will greatly benefit locals and merchants."
Standard private banking services connected to Myanmar’s Central Bank are no longer operational in these opposition-held regions. Instead, residents and traders currently rely on mobile financial platforms like KPay and Wave Money, as well as informal money transfer networks known as hundi, to manage cash flow.
Border trade along routes connecting Bangladesh and India has also dropped well below normal levels due to junta transport blockages, forcing merchants to rely heavily on informal border routes.
Despite the announcement, the APRG has not yet disclosed what specific services the new banking system will offer, how deposits will be secured, or under what legal and regulatory framework it will operate.
Commenting on the challenges of a revolutionary government establishing its own banking system, a banking expert noted that public trust is just as critical as technology and skilled human resources.
"Systematically recruiting township managers and marketing staff is a promising start," the expert said. "However, central bank policy, exchange rate stability, and the ability to connect and transfer funds with neighbouring countries and other regions will pose major challenges to the sustainability of this banking enterprise."
