State banks, others to come under market conduct rules
The Bank of Thailand is expected to introduce market conduct rules for the supervision of state banks, nano finance operators and asset management firms in the second quarter this year.
The rules are to ensure that the bank customers will get fair services, appropriate and clear advice and given products or services with fair prices and conditions.
Thanyanit Niyomkarn, BOT Assistant Governor/Supervision Group 2, said that the rules will be piloted at five state banks in the initial phase: Government Savings Bank, Bank for Agriculture and Agricultural Cooperatives, Government Housing Bank, Islamic Bank of Thailand, and Small and Medium Enterprise Development Bank of Thailand.
Market conduct rules for commercial banks practice have already been launched.
