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Restructuring of Thai Financial Sector to Be Completed in Two Years.

Bangkok Post (Bangkok, Thailand)

| January 08, 2004 | COPYRIGHT 2004 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Parista Yuthamanop

Jan. 8--The system-wide restructuring process and consolidation for the financial sector is expected to be completed within the next two years, according to Tarisa Watanagase, deputy governor of the Bank of Thailand.

The cabinet on Tuesday approved a sweeping new regulatory framework for the financial sector, aimed ultimately at consolidating the 83 banks, finance companies and consumer finance firms now in operation.

Only two types of institutions will remain under the plan -- full-service banks or retail banks.

Mrs Tarisa said finance companies and credit fonciers would have six months to submit ...

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