According to the Myanmar Investment Law, domestic borrowings in foreign currency is not available. Domestic borrowing in local currency can be provided by the commercial banks operating in the country. Foreign borrowings and foreign equity investments require prior approval of MIC. All foreign investments should be registered with MIC to enable applications for capital repatriation and profit remittance. Remittance of profit and capital repatriation are subject to approval of MIC and are also subject to Exchange Control regulations.