The Bank of Thailand plans to allow commercial banks to obtain more than one banking business licence, including a planned virtual bank licence, to pave the way for the country’s digital economy.
The central bank on Tuesday issued a public consultation on the topic of “Repositioning Thailand’s Financial Sector for a Sustainable Digital Economy” to lay out the central bank’s underlying principles and policy directions for a new financial landscape, said governor Sethaput Suthiwartnarueput.
The repositioning of the financial sector needs to strike the right balance between promoting innovation and managing risk, as well as allowing for flexibility in dealing with abrupt changes.
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