Bank of Thailand 'on track' to meet virtual bank licence schedules
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Bank of Thailand 'on track' to meet virtual bank licence schedules

Consultation paper on digital technology framework will be released in Q4

Bank of Thailand governor Sethaput Suthiwartnarueput is preparing to release a consultation paper on a digital technology framework. (Photo: Bank of Thailand)
Bank of Thailand governor Sethaput Suthiwartnarueput is preparing to release a consultation paper on a digital technology framework. (Photo: Bank of Thailand)

The Bank of Thailand (BoT) is on track to meet schedules in terms of accepting and approving licences for virtual banks, BoT governor Sethaput Suthiwartnarueput said on Thursday.

He was speaking at a digital finance conference.

In July, Mr Sethaput said he expected virtual banks to begin operations in 2025, with three licences issued initially.

He also said the central bank planned to release a consultation paper on a digital technology framework early in the fourth quarter of 2023.

The paper will be about common utility, open digital payment and more collaboration in new technology, the central bank chief added.

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