All Myanmar banks closed nationwide

All Myanmar banks nationwide were closed Monday following a military coup, declaration of a state of emergency and the detention of the de facto civilian leader Aung San Suu Kyi, reports Bangkok Post.

“All member banks of Myanmar Banks Association are to close their bank unanimously starting from February 1,” according to an announcement by the association, which said it was due to a poor internet connection.

The banks would seek permission from the Central Bank of Myanmar for the temporary closure and inform it when they planned to restart services, the statement said.

National League for Democracy Party leader Suu Kyi and other senior figures from the National League for Democracy Party have been detained in an early morning raid before the Myanmar army declared a state of emergency.

Earlier in the day, the President's Office declared the state of emergency after State Counsellor Aung San Suu Kyi, President U Win Myint and other senior officials were detained by the military.

Later, the Myanmar military said on Monday new elections will be held after the end of a one-year state of emergency, and it will return the state power to the new government.

The military said that during the state of emergency, the Union Election Commission will be reformed and the parliamentary elections held in November last year will be reviewed.

The state power will be handed over to Commander-in-Chief of Defense Services Min Aung Hlaing, the military-owned Myawaddy TV said in a statement.

The military said that there was massive voting fraud in the elections on Nov 8, 2020, and demanded postponement of new parliamentary sessions. The Union Election Commission dismissed the allegations last week.

The military said on Monday it was handing power to commander-in-chief Min Aung Hlaing. Soldiers are on the streets of the capital, Nay Pyi Taw, and the main city, Yangon.

At elections in November, the NLD party of Suu Kyi won enough seats to form a government, but the army says the vote was fraudulent.

Myanmar, also known as Burma, was ruled by the military until 2011. Suu Kyi spent many years under house arrest.

Earlier NLD spokesman Myo Nyunt said Suu Kyi, President Win Myint and other leaders had been "taken" in the early hours of the morning.

"I want to tell our people not to respond rashly and I want them to act according to the law," he said, adding he also expected to be detained.

Soldiers also visited the homes of chief ministers in several regions and took them away, family members said.

The newly-elected lower house of parliament was due to convene for the first time on Monday but the military was calling for a postponement.

'A clear violation of the constitution'
The BBC's South East Asia correspondent, Jonathan Head, says the coup appears to be a clear violation of the constitution drafted by the military more than a decade ago, and which it promised to honour only on Saturday.

Detaining political leaders like Suu Kyi is a provocative and very risky move, one which may well be strongly opposed, the correspondent says.

"The military junta that ruled Myanmar for decades never really stepped away from power in the first place," John Sifton of Human Rights Watch said.

"They never really submitted to civilian authority in the first place, so today's events in some sense are merely revealing a political reality that already existed."

"The doors just opened to a very different future," Thant Myint-U, Yangon-based historian and author described the outlook. "I have a sinking feeling that no one will really be able to control what comes next."

"And remember Myanmar's a country awash in weapons, with deep divisions across ethnic and religious lines, where millions can barely feed themselves."

What is the situation on the ground?

Mobile internet data connections and some phone services have been disrupted in major cities, while the state broadcaster MRTV says it is having technical issues and is off air.

Communications with Nay Pyi Taw are down and it is difficult to assess the situation there.

In the country's largest city and former capital Yangon, phone lines and internet appears to be limited, with many providers cutting their services.

There are reports that people in Yangon are rushing to get money from ATMs amid expectations of a cash crunch in the coming days.

Some ATMs already appear to not be working and it's unclear whether banks will open.

What happened in the election?
The NLD won 83% of available seats in the November 8 election in what many saw as a referendum on Suu Kyi's civilian government.

It was just the second election since the end of military rule in 2011.

But the military has disputed the result, filing complaints at the Supreme Court against the president and the chair of the electoral commission.

Fears of a coup rose after the military recently threatened to "take action" over alleged fraud. The election commission has rejected the allegations.

Who is Aung San Suu Kyi?
Aung San Suu Kyi is the daughter of Myanmar's independence hero, General Aung San. He was assassinated when she was only two years old, just before Myanmar gained independence from British colonial rule in 1948.

Suu Kyi was once seen as a beacon for human rights - a principled activist who gave up her freedom to challenge the ruthless army generals who ruled Myanmar for decades.

In 1991, she was awarded the Nobel Peace Prize, while still under house arrest, and hailed as "an outstanding example of the power of the powerless".

Suu Kyi spent nearly 15 years in detention between 1989 and 2010.

In November 2015 she led the National League for Democracy (NLD) to a landslide victory in Myanmar's first openly contested election for 25 years.

The Myanmar constitution forbids her from becoming president because she has children who are foreign nationals. But Suu Kyi, now 75, is widely seen as the de facto leader.

But since becoming Myanmar's state counsellor, her leadership has been defined by the treatment of the country's mostly Muslim Rohingya minority.

In 2017 hundreds of thousands of Rohingya fled to neighbouring Bangladesh due to an army crackdown sparked by deadly attacks on police stations in Rakhine state.

Suu Kyi's former international supporters accused her of doing nothing to stop rape, murder and possible genocide by refusing to condemn the still-powerful military or acknowledge accounts of atrocities.

A few initially argued that she was a pragmatic politician, trying to govern a multi-ethnic country with a complex history.

But her personal defence of the army's actions at the International Court of Justice hearing in 2019 in The Hague was seen as a new turning point that obliterated what little remained of her international reputation.

At home, however, "the Lady", as Suu Kyi is known, remains wildly popular among the Buddhist majority who hold little sympathy for the Rohingya.