Thailand will soon invite more foreign banks to apply for offshore banking licenses
as part of its bid to become a regional financial center.
Some 47 foreign and domestic banks hold licenses to lend offshore funds both to Thai
clients and to other countries in the region.
Bank of Thailand deputy-governor Rerngchai Marakanonda said banks already operating
will be allowed a greater scope of operations. Without specifying a date, he said
they will be allowed to open sub-branches and trade in Thai baht. - AP