Banks must prepare for Asean: Prasarn
Bank of Thailand Governor Prasarn Trairatvorakul today urged Thai banks to learn more about Asean market ahead of full liberalisation of the regional financial market in 2020.
"Thai banks should do more about their strategies to compete under AEC," he said at a seminar hosted by ITMX.
He added that they should accumulate more knowledge about Asean countries.
On regulatory level, he said central banks in the region are working out rules of Qualified Asean Bank which are to be announced late next year.
Banks meeting the criteria would be first granted business license to operate in all 10 member countries.
