Bank of Thailand to open virtual banking applications

Virtual banks should open in 2025 and come under same regulatory regime as existing lenders

Bank of Thailand
The Bank of Thailand
George Johnson

Thailand’s central bank wants the country’s first virtual banks in 2025, it says in a consultation paper published today (January 12).

Firms will be able to apply for permits to the Bank of Thailand later this quarter. About 10 parties have expressed an interest to apply for virtual banking permits, assistant governor Tharith Panpiemras said.

The central bank will then write to the finance ministry recommending a maximum of three candidates to set up virtual banks, it said. Under the plan, the

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