Thai c.financial institution plans guidelines on digital banks, open banking

Thailand’s central financial institution is seen on the Financial institution of Thailand in Bangkok, Thailand April 26, 2016. REUTERS/Jorge Silva

BANGKOK, March 25 (Reuters) – Thailand’s central financial institution mentioned on Friday it’s planning new coverage pointers for the banking sector, together with digital banks and open banking, for later this yr.

The Financial institution of Thailand (BOT) will publish pointers for a public listening to on a digital financial institution licensing framework and for the sector’s engagement in digital companies by the second quarter of this yr, it mentioned in a assertion. learn extra

Instructions on open banking coverage shall be introduced within the third quarter of 2022, the BOT mentioned.

The brand new pointers will replicate earlier suggestions from the central financial institution geared toward repositioning Southeast Asia’s monetary sector to serve a sustainable digital economic system, it mentioned.

Reporting by Orathai Sriring
Enhancing by Kanupriya Kapoor

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