BANK REHABILITATION PLAN TO GO BEFORE PRAYUT
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The rehabilitation plan for the Islamic Bank of Thailand will be tabled by the State Enterprise Policy Office (Sepo) at the October 11 meeting of the State Enterprise Policy Commission, which is chaired by Prime Minister General Prayut Chan-o-cha.
Sepo deputy director Piyawan Lamkitcha said that the bank had always had approaches from possible local and foreign strategic partners.
The law governing the Islamic Bank of Thailand is being amended to allow the Finance Ministry to hold more than 49 per cent shares in the bank, which will pave way for the ministry to raise the bank’s funding. However the increase of the ministry’s shareholding in the bank will be for a short term, pending negotiations between the ministry and the bank’s potential strategic partner.
