BANKS READY FOR LOWER DEPOSIT GUARANTEE
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The Thai Bankers Association said yesterday its members are ready for the lower deposit protection ceiling, thanks to their financial strength and preparations made over the past months.
Starting today, the cap on deposit accounts automatically protected under the Deposit Insurance Act will be reduced to Bt25 million per bank from Bt50 million.
Kobsak Duangdee, secretary-general of the association, said that at the end of 2014, the banking system’s capital-adequacy ratio stood at 16.8 per cent, well above the requirement of 8.5 per cent.
There is little chance that banks would face a similar crisis like in 1997. However, the deposit protection rules are applied according to international standards.
“The new protection limit will not affect depositors. Out of 67.2 million depositors in Thailand, those with savings below Bt25 million accounted for 99.94 per cent,” he said.
There were fears that the lower limit would drive deposits from small banks to large banks.
The Deposit Insurance Act was passed following the financial crisis of 1997.
RICE DEAL WITH CHINA TO BE WRAPPED UP SOON
Chinese representatives are scheduled to visit Thailand from September 13-14 to wrap up the government-to-government contract to procure one million tonnes of rice.
The government discussed the details with Beijing early this year, Commerce Minister Chatchai Sarikulya said yesterday.
According to the contract with China, he said, Thailand will deliver the last grain of one million tonnes by December. Under this contract, rice will be traded at the market price for 5-per-cent white rice and jasmine rice.
The Commerce Ministry’s fifth tender for more than 600,000 tonnes of government rice could draw 58 traders.
The ministry will soon finalise the bidding result and release the names of the winners that offered good prices.
PHUKET GOVERNOR TO HELP MEDICAL TOURISM
Phuket Governor Nisit Jansomwong is ready to help local hospitals make a push into the medical tourism industry as millions of baht flow in for eye-care centres.
“More than Bt30 million has been approved for eye-care centres at public hospitals, specifically Vachira Phuket Hospital and Patong Hospital,” Nisit said in an exclusive interview with the Phuket Gazette last week.
“Many tourists come to Phuket. If government hospitals here can provide services that meet tourists’ needs, it will be a very important move for promoting Phuket as a medical tourism destination.”
The eye-care centre will be a great alternate choice for patients, said Dr Sirichai Silpa-archa, director of Patong Hospital.
“Currently, we have an ophthalmologist from Vachira Phuket Hospital running a clinic here once or twice a week. However, we will soon have our own ophthalmologist,” he said.
“Having this centre will improve our services and make it convenient for patients who normally have to drive to Phuket Town for their eye care.” – Phuket Gazette, Phuket
