Central Banking

Thailand's credit card rate to be capped at 18%

THAILAND - Interest rates and charges for credit cards issued by both banks and non-banks should be capped at 18%, says Finance Minister Somkid Jatusripitak.

The Finance Ministry and the Bank of Thailand are also expected to announce new minimum income requirements for card applicants and limits on credit lines for cards under a ministerial announcement expected to take effect next month, the Bangkok Post reported.

Mr Somkid yesterday met M.R. Pridiyathorn Devakula, governor of the Bank of Thai