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FPO sure of private sector involvement in nano-finance
The Fiscal Policy Office has expressed confidence in the plan to introduce a “nano-finance” scheme offering emergency loans with interest rates of no more than 36 per cent per annum, suggesting the private sector could be persuaded to run such businesses.
“Underground lenders charge interest of about 5 per cent per month. We will charge lower rates than that but higher that those for microfinance. We are looking at no more than 36 per cent per annum,” FPO director-general Krisda Chinavicharana said.
Krisda believes a number of private enterprises could run this kind of business, which would not be allowed to accept people’s deposits, given a lack of stringent rules like those imposed on other financial service providers.
One nano-finance operator will be allowed in each province to lower business risks.
Rice auction next Tuesday
The Commerce Ministry’s Foreign Trade Department is scheduled to open bidding for 207,898.79 tonnes of 5 per cent white rice and husked rice from the 2011-12, 2012-13 and 2013-14 harvest seasons on October 28, as an attempt to release more rice from the government’s stocks before the beginning of the main harvest season.
It will be the third auction this year, while the government has still proceeded with rice sales to private traders directly.
The department will today explain details of the rice auction to general rice traders.
The ministry was able to sell about 140,000 tonnes of rice via two auctions this year worth Bt1.7 billion.
KBank wins global award
Kasikornbank has won an international Digital Marketing Award for its effective digital social-engagement channels.
The European Financial Management Association, whose membership includes nearly one-third of the world’s large retail banks, and Accenture have announced the winners of Global Financial Services Awards. More than 250 financial institutions from 69 countries including Thailand submitted nearly 600 case studies of customer innovations within nine categories.
Three categories were new this year, namely Digital Marketing, Customer Analytics & Big Data, and Best New Product or Service.
Foreclosed assets sold
The Legal Execution Department has sold foreclosed assets worth Bt98.89 billion in fiscal year 2014 (October 2013 to September 2014) for Bt34.07 billion, director-general Ruenwadee Suwanmongkol said.
She said this was lower than an early estimate of Bt100 billion in sales because of the sluggish growth of the economy. However, the department hopes for better figures in the current fiscal year.
As of September 30, the department has 163,173 foreclosed assets worth Bt223.36 billion for sale.
