Central Banking

Top Thai regulator advises Asean neighbours to open markets slowly

Association of Southeast Asian Nations

Financially underdeveloped members of the Association of Southeast Asian Nations (Asean) must open up their markets slowly to avoid crippling local banks and limit opportunities for regulatory arbitrage, a senior Thai regulator has stressed.

"[Members] that are less mature need to step up development in order to compete," Somboon Chitphentom, senior director at Bank of Thailand's (BoT) regulatory policy department said today (May 14), in a panel discussion at the Asean Risk Conference in Kuala

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