Thailand to issue virtual bank guidelines and allow fintech investments by lenders: report

BOT is aiming to issue the new guidelines by June.

The Bank of Thailand (BOT) is preparing to issue rules for setting up virtual banks, with the goal of issuing guidelines by June, a senior financial regulator said, reported Bloomberg.

BOT plans to issue the guidelines for digital banks by June and may allow existing lenders and new applicants to seek licenses, according to Assistant Governor Roong Mallikamas.

The central bank is also poised to scrap limitations imposed on commercial banks that will allow them to invest in financial technology, except for digital assets.

“We expect to see more competition and innovations by allowing virtual banking and it will benefit depositors,” Roong reportedly said. “No one will stay still. Existing players will also adjust.”

Here’s more from Bloomberg.

Follow the link s for more news on

Bank of Thailand

Thai banks' fintech investments

Thailand virtual banking guidelines

Also Read

167 financial services firms adopt AI initiatives: report

Japanese banks seek M&As overseas

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit