AI In-brief Today 15:16

BOT set to tighten controls on BNPL service

The Bank of Thailand (BOT) will implement stricter controls on "Buy Now, Pay Later" (BNPL) services and consumer credit starting December to address growing debt issues and foster long-term financial stability.
The central bank observed a rapid surge in BNPL services, with credit accounts increasing 90% annually, highlighting elevated risks for consumers, particularly younger and vulnerable demographics.
New regulations introduce five key measures, including a minimum age of 20 for BNPL users and a credit limit of 20,000 baht with a maximum six-month repayment period.
Additional controls cap combined interest, fines, and fees at 15% per annum and prohibit the conversion of credit lines into cash or digital money, ensuring responsible lending practices.

AI In-brief Yesterday 16:18

Food industry expansion slows amid surging costs and weak consumer spending

Thailand's food and beverage market is projected to grow 3.9% to 682 billion baht by 2026, yet this growth rate continues to decelerate.
Operational costs are surging, with production expenses up over 20% and logistics over 70%, severely squeezing profit margins for businesses.
Weak consumer spending and intense competition compel businesses to innovate, diversify sales channels, and target younger demographics to maintain competitiveness.
Government efforts are underway to support food operators by upgrading skills, creating market opportunities, and establishing vital business networks.