PROPOSAL TO CABINET WOULD MOVE INACTIVE DEPOSITS INTO TREASURY
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Ministry of Finance will ask the Cabinet that it consider a draft law to manage inactive deposits that would help Thailand’s treasury cash balance this December, while insisting that the measure would help both depositors and financial institutions.
Suwit Rojanavanich, finance spokesman and director-general at the Fiscal Policy Office (FPO), said that the Council of the State and National Legislative Assembly would also review the legal draft after the Cabinet.
Under the draft law being circulated, the ministry would bring deposits of more than Bt2,000 that have been inactive for 10 or more years into the nation’s treasury cash balance. Depositors or their heirs would be able to make a claim for withdrawal any time.
Inactive deposits now total about Bt10 billion.
