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Thai Senate Refusal Spurs Review of Finance Reform Bill.
Byline: Wichit Chantanusornsiri
Oct. 6--The Finance Ministry will review the draft Financial Institutions Act once again after the Senate rejected the proposed law, according to Sommai Phasee, deputy finance permanent secretary.
A Senate majority voted in favour of amending the draft to clearly stipulate a maximum interest rate spread for financial institutions at five percentage points to protect consumers.
Both the Finance Ministry and the Bank of Thailand however have opposed any effort to stipulate interest rate ceilings or maximum spreads in the new law, arguing that financial institutions should be allowed to set rates based on market ...
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Source: HighBeam Research, Thai Senate Refusal Spurs Review of Finance Reform Bill.