Forex firms form Tafex association | Bangkok Post: business

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Forex firms form Tafex association

Move aims to meet global standards

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Local money changers have set up the Thai Association of Foreign Exchange (Tafex) to upgrade small foreign exchange businesses to international standards. 

Tafex chairman Chanaporn Poonsuphirun said the move is in preparation for changing global money markets and Thailand's financial liberalisation in the near future as well as the Asean Economic Community in 2016.

Tafex, which was established three weeks ago, will initially have up to 40 members out of the 1,217 operators in the business.

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