Finance Minister Pichai Chunhavajira said on Wednesday he wanted to ensure Kittiratt Na-Ranong filled all qualifications before recommending his appointment as central bank chairman to the cabinet for approval.
Mr Pichai said he had until mid-January to fill the job. Mr Kittiratt's qualifications were still being reviewed.
Mr Kittiratt was selected for the position of chairman of the Bank of Thailand last month, despite opposition from critics worried about the central bank's independence. He was seen as too close to the ruling Pheu Thai Party.
One of the central issues needing to be addressed is whether his role as an adviser to then-prime minister Srettha Thavisin was a political position.
A candidate for BoT chairman must not have held a political position for at least one year.
Mr Pichai, also a deputy prime minister, said no decision had been made on who would replace Mr Kittiratt if he fails to qualify.
Early this month, he confirmed his support for Mr Kittiratt for the position.
The appointment of the BoT board chairman still needs royal endorsement after cabinet approval.
Mr Kittiratt will replace Porametee Vimolsiri, whose tenure expired on Sept 16.
The BoT is an independent body responsible for monetary policy - its three goals are medium-term price stability, sustainable economic growth and financial stability. The national government controls fiscal policy - the raising and spending of taxes.