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Bangkok Post, Thailand, Business Briefs Column.
Jan. 8--INSURANCE BROKERAGE NOW OPEN TO BANKS: The Bank of Thailand has allowed commercial banks to engage in both life and non-life insurance brokerage businesses, according to Prangthip Busayasiri, a senior executive of the central bank's financial institutions policy department.
Banks are required to adhere to the insurance registrar's regulations on brokerage services. In addition, they must establish appropriate internal controls, formulate business policies, install accounting controls and keep documents relating to brokerage services current for possible spot-checks.
Previously, banks were prohibited from engaging in insurance brokerage. They ...
- Bangkok Post, Thailand, Company Reports Column.
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Source: HighBeam Research, Bangkok Post, Thailand, Business Briefs Column.