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Bangkok Bank’s President on Thailand Economy and Digital Banking

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Chartsiri Sophonpanich, president at Bangkok Bank, discusses the U.S.-China trade war, its impact on Thailand, growth in the country, their loss of market share, asset quality and his plans for digital banking.

He speaks exclusively on “Bloomberg Markets: Asia” from the sidelines of the Bloomberg Asean Business Summit in Bangkok.

The theme for this 34th summit has three main components

First, is “Advancing”

ASEAN will look towards the future and move forward together dynamically, making use of technological advances from the 4th Industrial Revolution, and enhancing our competitiveness. ASEAN will also build immunities from disruptive technologies and future challenges, especially for MSMEs, so as to advance towards a “Digital ASEAN”.

Second, is “Partnership”

Both within ASEAN and with Dialogue Partners and the international community, by strengthening the concept of “ASEAN Plus One” and reinforcing the ASEAN-centered regional architecture, increasing economic cooperation with all countries with due consideration to balance and benefits for the people, and enhancing the role of ASEAN at the international stage in addressing important global issues such as climate change.

In strengthening ASEAN’s various partnerships, one of the most important drivers is the promotion of connectivity in various dimensions, including infrastructure, rules and regulations, and people-to-people links, especially in the context of the ASEAN Year of Culture 2019. Equally important is connecting the various connectivity strategies within the region, to becoming a “Seamless ASEAN”.

Third, is “Sustainability”

We wish to build sustainability in all dimension, be it sustainable security, sustainable economic growth, which includes the green economy and sustainable development. The establishment of the ASEAN Centre for Sustainable Development Studies and Dialogue and the ASEAN Centre for Active Ageing and Innovation will play an important role in achieving this goal

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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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