Debt clinics will not clear your debts, only make payments easy: ministry The Digital Economy and Society Ministry has warned people not to believe or spread rumours that the Bank of Thailand’s “Debt Clinic by SAM” will help pay off debts below Bt2 million. The debt clinics have been organised in cooperation with Sukhumvit Asset…
Fitch confirms Thailand’s rating at ‘BBB+’ with a Stable Outlook Thailand’s ratings are supported by strong public and external finances, which have provided buffers to respond to the economic shock and market volatility associated with the coronavirus pandemic. Fitch Ratings – Hong Kong – 29 Oct 2020: Fitch Ratings has affirmed Thailand’s Long-Term Foreign-Currency Issuer…
Bank of Thailand extends debt repayment and interest reduction measures As of September this year, the Debt Clinic project has helped some 8,300 card debtors. On average, each debtor has three cards, carrying a debt of about 240,000 baht each. BANGKOK (NNT) – The Bank of Thailand has extended its debt repayment and interest reduction…
Thailand Widens Fiscal Stimulus With Tax Breaks to Spur Growth Thailand will extend tax incentives to millions of its middle and upper income groups to fire up consumption and counter the nation’s worst economic slump triggered by the coronavirus pandemic. The concession will allow about 3.7 million taxpayers to deduct 30,000 baht ($96) each from…
Bank of Thailand Launches First Government Savings Bond based on Blockchain Technology In the past, the sale of government savings bonds was a complex, multiparty, time-consuming process that relied on a non-real-time system, with duplicated validation steps and manual reconciliation prone to data errors. BANGKOK, Thailand, Oct. 5, 2020 /PRNewswire/ –SIBOS — IBM today announced that Bank of Thailand(BOT),…
Thai central bank issues $1.6B in government bonds on IBM blockchain The Bank of Thailand has issued the world’s first blockchain-based government savings bond platform. The Bank of Thailand launched the world’s first blockchain-based government savings bond issuance platform using IBM’s blockchain technology. Within two weeks of the launch, the central bank sold more than…
Thai commercial banks stand strong despite crisis: DPA The Deposit Protection Agency (DPA) has said the state of commercial banks in Thailand is not that bad judging by the fact that their capital adequacy ratio is averaging at 19.2 per cent – a lot higher than the 8.5 per cent specified by the central bank.…
Four Thai banks Probed Over Anti-Money Laundering Investigations Four Thai banks allegedly involved in suspicious financial transactions are under investigation from the Anti-Money Laundering Office (Amlo) The Anti-Money Laundering Office (Amlo) is currently investigating an international report claiming that four major Thai banks were involved in suspicious financial transactions, according to the International Consortium of Investigative…
Thai central bank studies option of virtual banking licenses BANGKOK — Bank of Thailand’s deputy governor Ronadol Numnonda said the central bank is studying the pros and cons of virtual banking now that central banks in other countries have granted licenses for digital banking. Banks in Europe, Singapore and Malaysia already offer customer services via…
Thai economy continued to improve in July, says Bank of Thailand In July 2020, the Thai economy continued to improve, driven by public spending and the relaxation of lockdown measures both in Thailand and abroad, said Bank of Thailand. In July 2020, the Thai economy continued to improve, driven by public spending and the relaxation…