Logo of Phnom Penh Post newspaper Phnom Penh Post - Bangkok banking goes regional

Bangkok banking goes regional

Bangkok banking goes regional

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