Thailand forges ahead with virtual banking

BoT to accept applications to open virtual banks from March 20

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The Bank of Thailand (BoT) will accept applications for virtual bank licences from March 20, following two rounds of public consultations.

The central bank said on March 5 that the finance ministry had confirmed the licensing regulations for virtual lenders. 

The BoT said licensed virtual banks would provide small businesses and people on low incomes with better access to financial services, and could stimulate healthy competition among financial institutions.

The institution said it would consider

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