BOT to reduce commercial banks’ contributions to development fund

10 Sept 16:33 Key points summarised by AI

The Bank of Thailand (BOT) will cut commercial banks' contributions to the Financial Institutions Development Fund (FIDF) from 0.64% to 0.23% of their cash deposits, aiming to boost bank liquidity.
This reduction is intended to enable banks to assist approximately 2.3 million debtors, including those with mortgages, car loans, and small and medium enterprise (SME) debts, potentially offering interest payment moratoria for up to three years.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.