Bank for Agriculture to Offer Debt Moratorium for up to One Year BANGKOK (NNT) – The Bank for Agriculture and Agricultural Cooperatives (BAAC) will offer a debt moratorium, from six months to a year, to indebted clients who are farmers, cooperatives, village funds or agricultural communities as of 1 April 2021. BAAC manager Thanarat Ngamwalirat…
Bank of Thailand to begin central bank digital currency tests in 2022 Thailand’s central bank is calling for public comments on its proposed plan to launch a sovereign digital currency within the next five years. The Bank of Thailand has set its agenda for a retail central bank digital currency, with preliminary testing protocols scheduled…
Thai consumers are the most focused on financial health in ASEAN BANGKOK (NNT) – More Thai consumers are prioritizing financial health during the COVID-19 pandemic compared with their ASEAN counterparts. According to the UOB ASEAN Consumer Sentiment Study 2020, 3 in 4 Thai consumers (72%) want to manage their financial health, ahead of respondents in Malaysia…
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…
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…
UK, Bank of Thailand sign MoU on financial services The UK and the Bank of Thailand signed MoU to support Thailand’s inclusive economic recovery and green growth in line with the Sustainable Development Goals The UK Government and the Bank of Thailand (BoT) signed a Memorandum of Understanding (MoU) on 7 August 2020, forming a…
Thailand’s financial system more vulnerable amid COVID-19: BoT Thailand’s financial system has become more vulnerable due to the more-than-expected contraction of the country’s economic outlook due to impacts caused by the COVID-19 pandemic, according to the Bank of Thailand (BoT). Bangkok (VNA) – Thailand’s financial system has become more vulnerable due to the more-than-expected contraction of the country’s economic outlook…
Moody’s outlook for APAC corporates remains negative in 2020 Moody’s Investors Service says in a new report that overall credit conditions for APAC non-financial companies will weaken in 2020 • While positive, the US-China trade agreement will not resolve core differences, dampening business sentiment globally • Easing fiscal and monetary policies by major central banks…
Bank of Thailand cuts rate by 0.25% to 1.25 per cent The latest cut brings the Bot’s policy rate to an historical low, which the bank maintained from April 2009 to July 2010 during the subprime global financial crisis. On 6 November 2019, the MPC voted 5 to 2 to reduce the policy rate by…
Less Than Zero: The New Normal for Interest Rates? Huge global capital flows and prolonged ultra-low interest rate policies of advanced nations have made it harder for emerging economies to protect their financial system Back in the 1980s and 1990s, financially sound governments had to pay interest rates of 6-8 percent in order to borrow.…