Most nano-finance operators satisfied with regulations
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Nano-finance operators are satisfied with the regulations for their business and they welcomed the Bank of Thailand's advice, but some operators still want an easing in fees and conditions for loans.
The central bank discussed the rules governing nano-finance with five providers of the service yesterday. The BOT stressed that this type of loan could only be offered to people for use in their business operations.
The five operators that have secured a permit to offer nano-finance are Mackale Group, Fast Money Co, Thai Ace Capital, Sahapaiboon (2558) and Aira & Aiful.
Fast Money Co and Thai Ace Capital started offering nano-loans last month, with budgets of Bt500 million and Bt100 billion respectively.
“I am confident about the business. We are satisfied with the regulations as we already understand the conditions and we appreciate the advice from the central bank. But there are some firms that still want some change in the regulations,” said Somchai Kosirimongkol, managing director of Mackale Group.
He explained that the issue was about third-party and counter-service fees, where some operators do not want to bear the whole burden by themselves. The customers also share some of the fees in other types of loans.
He commented further that his firm did not have any problem with the fees. Mackale’s investment budget for nano-finance has been set at Bt186 million.
Kajit Sererat, director of Sahapaiboon (2558), said the BOT had insisted that nano-loans could only be offered to business operators and his firm was willing to comply with that regulation, but he believed that the conditions could be eased to allow for easier operation.
“We cannot offer the loans to people who want to buy a car or send their children to study abroad.
We are willing to comply with the conditions but too much regulation would make it hard to offer such loans,” he said.
Sahapaiboon (2558), which operates mainly in the Northeast region of the country, has set the budget at Bt50 million for the loan scheme.
