Central bank plans rules on virtual banks, open banking

Central bank plans rules on virtual banks, open banking

People use commercial bank ATMs in a department store in Bangkok. (File photo: Bangkok Post)
People use commercial bank ATMs in a department store in Bangkok. (File photo: Bangkok Post)

The Bank of Thailand (BoT) said on Friday it is planning new policy guidelines for the banking sector, including virtual banks and open banking, for later this year.

The BoT will publish guidelines for a public hearing on a virtual bank licensing framework and for the sector's engagement in digital businesses by the second quarter of this year, it said in a statement.

Directions on open banking policy will be announced in the third quarter of 2022, the central bank said.

The new guidelines will reflect previous recommendations from the central bank aimed at repositioning Southeast Asia's financial sector to serve a sustainable digital economy, it said.


Do you like the content of this article?
COMMENT (1)

Rock icon Christine McVie dies at 79

LONDON: Christine McVie, whose songwriting and signature vocals helped make British-American group Fleetwood Mac one of the best-selling rock bands of all time, has died at the age of 79.

14:01

Passenger killed, 9 hurt when crane hits minibus

A woman was killed and nine other passengers injured when a minibus was hit by the hanging pendulum hook of a mobile crane emerging from a side street in Ban Bung district of Chon Buri on Wednesday night.

13:11

UN seeks record $51.5bn aid 'lifeline'

GENEVA: The United Nations and partners on Thursday launched an appeal for a record US$51.5 billion in aid money for 2023, with tens of millions of additional people expected to need humanitarian assistance.

12:18