March 25, 2022
BANGKOK (Reuters) – The Central Bank of Thailand said on Friday it plans new policy principles for the banking sector, including virtual banks and open banks, by the end of this year.
The Bank of Thailand (BOT) will publish recommendations for public hearings on the licensing system of virtual banks and the sector’s participation in the digital business by the second quarter of this year, according to https: //www.bot.or .th / English / PressandSpeeches / Press / 2022 / Pages / n1565.aspx.
The directions of the open banking policy will be announced in the third quarter of 2022, BOT noted.
The new recommendations will reflect previous central bank recommendations aimed at repositioning Southeast Asia’s financial sector to serve a sustainable digital economy, the report said.
(Report by Oratai Sriringa; edited by Kanupriya Kapoor)