Thai Central Bank invites feedback on its plan to set up virtual banks

13 Sept 23:35 Key points summarised by AI

The Bank of Thailand (BOT) is actively seeking feedback from all stakeholders until the end of the month regarding its plan to establish virtual banks, intending to use this input to refine guidelines for a new digital financial platform.
The BOT emphasizes that the formation of virtual banks must carefully consider risk management, sustainability, digital technology development, market competitiveness, and the mitigation of any negative impacts, while also aiming to reduce regulatory burdens through fintech adoption.
Expected by mid-year, the guidelines for virtual banking are anticipated to address evolving consumer needs and contribute to resolving the household debt problem, aligning with Thailand's significant recent shift towards digital banking.

New home loan scheme aims to boost property sector with Bt125 billion

Today 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.