Government to help 1.9 million small debtors and SMEs

13 Sept 14:12 Key points summarised by AI

The "khunsoo rao chuay" program, a collaborative effort by the Finance Ministry and commercial banks, offers debt relief to 1.9 million small debtors and SMEs, aiming to reduce Thailand's household debt by 10%.
One key measure, "jaitrong kongsap," assists mortgage and car loan debtors, plus small enterprises, by refinancing, reducing monthly repayments, and freezing interest for three years, provided they make punctual payments and avoid new loans.
A second measure, "pay, close," targets individuals with delinquent debts under 5,000 baht, enabling them to settle obligations through refinancing.
The program's 39 billion baht funding is sourced from commercial bank contributions to the Financial Institutions Development Fund (FIDF) and a government compensation fund for state-owned banks.

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.