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Bank of Thailand (BOT) reaffirms commercial banks’ financial health

Thailand’s commercial banks are financially sound and are able to withstand any economic impact from the pandemic, Bank of Thailand (BoT) Deputy Governor Ronadol Numnonda said

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The Bank of Thailand (BOT) has reaffirmed commercial banks’ financial health, urging members of the public to remain confident with the banks’ ability to cope with the COVID-19 economic fallout.

Thailand’s commercial banks are financially sound and are able to withstand any economic impact from the pandemic, Bank of Thailand (BoT) Deputy Governor Ronadol Numnonda said in a statement Sunday.

Deputy governor on financial institution stability Ronadol Numnonda revealed commercial banks in Thailand are still backed by a large amount of excess reserves thanks to a stringent monetary policy.

The central bank asked financial institutions to run stress tests and the results showed all the lenders possess sufficient capital to cope with a “severe crisis.” There are also both fiscal and monetary policies in place to help the economy, according to Mr Ronadol.

Banking

The Importance of E-Wallets for Online Gaming Sites

With e-wallets and cryptocurrency being the most relevant options, banks have been put on the side burner, especially when e-wallets and cryptocurrency allow for fast electronic transfer, that is done instantly.

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e-wallet

Online gambling is an industry that needs to keep up with technological trends, to make sure it stays relevant and convenient within the gambling community.

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Banking

Thai Government to issue Bt50 bln ( $1.57 bln)Savings Bonds to fund COVID-19 Relief Measures

The special savings bonds are available via the “Sasom Bond Mung Kung” e-wallet, abbreviated to “Sor Bor Mor” in Thai on Krungthai Bank’s Pao Tang mobile app, and through four dealer banks. The minimum purchase of these bonds is 1,000 baht, without no maximum. Interest is paid twice a year.

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BANGKOK (NNT) – Thailand’s Public Debt Management Office (PDMO) plans to issue “Ying Aom Ying Dai” (the more you save, the more you earn) government savings bonds, worth 50 billion baht, next month, aiming to use the funds to finance state projects to ease the impacts of the pandemic.

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