Government approves final stage of Thai development plan

The Bank of Thailand will encourage electronic payments in phase three

Phase three of Thailand’s financial sector master plan (FSMP) was approved by the government today (March 22), extending the joint efforts of the Bank of Thailand and ministry of finance.

“The vision of the FSMP III is to promote a competitive Thai financial sector which can support more diverse needs at fair and undistorted prices, promote regional trades and investments, with supervision to ensure macroeconomic and financial stability,” the bank said in a statement.

The master plan seeks to

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