BANK OF THAILAND ACT B.E. 2485

Share: 

The BOT Act sets out the objectives, scope of working and organization structure of the Bank of Thailand in accordance with the international central banking standard in order to maintain the financial system, the financial institution system and the payment system stability and efficiency through the transparency and accountable procedure. (From the Bank of Thailand website)

(Excerpt)

Chapter 2

Constitution and Objectives

Section 5 There shall be constituted a central bank called “the Bank of Thailand”, hereby referred to as “the BOT”. The BOT is a juristic person which is a state agency, and is neither a government agency nor state enterprise under the law on budgetary procedure and other laws.

Section 6 The BOT shall have its head office in Bangkok and may establish branch offices or representative offices in any other place in the Kingdom and, with the prior approval of the Minister, may establish outside the Kingdom.

Section 7 The BOT’s objectives are to carry on such tasks as pertain to central banking in order to maintain monetary stability, financial institution system stability and payment systems stability. To undertake the tasks in paragraph one, the implementation of economic policy of the government shall be taken into consideration.

Section 8 The BOT shall be empowered to transact businesses to attain the objectives under Section 7 and such powers shall include the following businesses: (1) the issue and management notes of the government and bank-notes; (2) the formulation and implementation of monetary policies; (3) the management of the assets of the BOT; (4) the acting as a banker and the securities registrar to the government; (5) the acting as a banker to financial institutions; (6) the establishment or supporting of the establishment of a payment system; (7) the supervision and examination of financial institutions; (8) the management and administration of the exchange rate under the exchange rate regime, including the management and administration of the assets of the Currency Reserve, as prescribed in the law on currency. (9) the control of foreign exchange as prescribed in the law on foreign exchange control. (10) the undertaking under other laws as prescribed to be the authorities of the BOT. (11) other act in relation to or in conjunction with the management to attain the objectives of the BOT. The BOT may have ownership, the right of possession or other real rights and may manage assets or claims or may establish of rights or may do any juristic act either within or outside the Kingdom.

Document Details

Document Type: 
Doument Author (Entity): 
Authoring Country: 
Originating Country or Trade Block: 
Issue Status: 
Year of Document: 
2018
Date of Document: 
Sunday, December 16, 2018
Document Authors: 
Assembly of the People’s Representatives
Language (This Document): 
English

Legal Disclaimer: The content appearing on this site is for general information purposes only and made available on an "AS-IS" basis. The law is subject to change and no representation or warranty is made with regard to accuracy or fitness for a particular purpose.