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Thai Banking-Rule Revision Offers Easier Access to Baht Loans for Business.

Bangkok Post (Bangkok, Thailand)

| January 05, 2002 | COPYRIGHT 2002 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

Jan. 5--Financial institutions can now lend baht to non-residents of Thailand for business purposes in five neighbouring countries.

The relaxation of a restriction by the Bank of Thailand applies to loans for business purposes in Burma, Laos, Cambodia, Vietnam and south China, according to Pakorn Malakul Na Ayudhya, the bank's deputy governor.

The move is intended to help Thailand expand its regional investment.

In 1998, the central bank barred financial institutions from lending to non-residents, except for individuals who intended to spend the money on personal consumption in Thailand. The loans were capped at five million baht each, subject ...

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Source: HighBeam Research, Thai Banking-Rule Revision Offers Easier Access to Baht Loans for...