Banking and financial services

Thailand is unlikely to tighten monetary policy aggressively as inflation remains low and the economy needs support, the chairman of the nation’s central bank said.At the same time, the current pace of annual economic expansion of about 4 percent is sufficient to begin policy normalization, ...

The e-payment law, a tool for the Revenue Department to tax the income of non-salaried earners, particularly online vendors, will go into force from Jan 1, 2020. It takes time to link systems between the Revenue Department and financial institutions, so the money transfer reporting ...

The government’s tax collection policy is threatening the growth of e-payments and discouraging a cashless society, say e-payment and e-commerce proponents. The Bank of Thailand reported that the value of e-payments in June 2018 was 38.94 trillion baht, up from 33.56 trillion a year earlier. ...

Though countries in Asia Pacific are racing to build their own cryptocurrency hubs — Jeju Island in South Korea or Cagayan in the Philippines are among them — they are arguably playing catch-up: Thailand has one of the most prosperous cryptocurrency ecosystems in the region, ...

The cabinet yesterday (Oct 10) approved a draft law from the Finance Ministry that governs financial service providers as officials seek to deal with an increasingly diverse landscape for financial services. This is especially so for those services that have yet to be regulated by ...

As we pointed out in our previous article on Sept 5, we are probably at a late stage of the current economic cycle, but nowhere near the end of it. Gross domestic product growth, both global and domestic, has been creeping up at slightly above ...

Everyone is confronted by challenges of various kinds. For businesses, it is about being disrupted by technology. Survival of existing business models is being called into question, including financial businesses that have been disrupted by technology and fast-changing customer behaviour.Keep reading ...

Electronic services of many banks – ATMs, mobile and internet banking – crashed on Friday morning (August 31). Messages on some screens said there were too many users. One big bank was later disconnected from the central switching system and other banks’ services were  restored. ...

The Bank of Agriculture and Agricultural Cooperatives (BAAC) reported progress of Tree Bank Project that 80% of the collateral price is equal to the land from the original 50% of the assessed credit, as an alternative choice for farmers can solve their debt problems. Along ...

TMB BANK Plc , which recently issued Thailand’s first green bonds, aims to lead the way in sustainable banking by doing business in a way that supports its customers as well as social development, environment protection and the uplifting of banking service standards, TMB Chief ...