This month, the Bank of Thailand is set to welcome applications for virtual banking licences, a move that has piqued the interest of numerous business operators. The finance ministry is currently in possession of a draft outlining the regulations for virtual banking, which is due to be made public in the Royal Gazette.
Suwannee Jatsadasak, a 42 year old assistant governor at the central bank overseeing the supervision group, indicated that the application period would commence in March. The bank envisages a nine-month evaluation period for the assessment of applicants’ credentials, with announcements of successful applications anticipated by mid-2025. Virtual banking services are projected to be operational by 2026, reported Bangkok Post.
“Several business operators are interested in applying for licences via a consortium,” disclosed…
