(Feb 1): Thailand is preparing rules for the setting up of virtual banks, set to join countries from Singapore to Malaysia in promoting financial technology to spur competition and wider access to banking services.
Thailand is preparing rules for the setting up of virtual banks, set to join peers including Singapore and Malaysia in promoting financial technology to spur competition and wider access to banking services.
The Bank of Thailand (BOT) plans to issue the guidelines for digital banks by June and may allow existing lender and new applicants to seek licenses, BOT Assistant Governor Roong Mallikamas said at a virtual briefing on Tuesday. The central bank also plans to scrap a limit on investment by commercial banks in financial technology, except digital assets, she said.
Thailand is the latest country in Asia to embrace the
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