Development fund for four state banks approved by NLA
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The National Legislative Assembly has passed a bill establishing a development fund for the state's special financial institutions.
This means the four state banks – the Bank for Agriculture and Agricultural Cooperatives (BAAC), Government Housing Bank (GHB), Government Savings Bank (GSB), and Islamic Bank of Thailand (IBank) – will have to contribute to a fund to help with their own development.
The state banks will have to provide no more than 1 per cent of their total deposits to this development fund, which is the same proportion that the Bank of Thailand is collecting from the commercial banks for a similar type of fund.
The Nation
