Parliament of Thailand - Bank of Thailand Act (No. 4), 2008

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The Bank of Thailand Act sets out the objectives, scope of working and organizational structure of the Bank of Thailand (BOT) in accordance with international central banking standards in order to maintain the financial system, the financial institution system and the payment system stability and efficiency through the transparency and accountable procedure. The act establishes the boards, with the powers to determine, as necessary, policies and measures on specific areas, namely the Bank of Thailand Board, the Monetary Policy Board, the Financial Institution Policy Board and the Payment Systems Board in order to allow the BOT to undertake its tasks of maintaining the monetary stability and financial institution system stability more effectively, promptly and suitably for global economic conditions which change expeditiously. Additionally, the act also improves the accounting, auditing and reporting system to support the effective and flexible management. Furthermore, when the Deposit Protection Agency Act comes into force, the act repeals the powers of the Financial Institutions Development Fund (FIDF) in assisting financial institutions, depositors or creditors of financial institutions in the case where the financial institutions face financial crisis severely. The act is divided into several chapters, and outlines provisions on the following subjects:

1. Constitution and Objectives
2. Capital and Reserve
3. The Bank of Thailand Board
4. The Monetary Policy Board
5. The Financial Institutions Policy Board
6. The Payment Systems Board
7. The Governor
8. Financial Institutions Development Fund
9. Operation within the Scope of the BOT’s Powers and Duties
10. Prevention of the Conflict of Interest of the Officers
11. Supervision
12. Accounting, Examination, Auditing and Reporting
13. Penalties

Document Details

Document Type: 
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Year of Document: 
2008
Date of Document: 
Tuesday, February 26, 2008
Document Authors: 
Parliament of Thailand
Language (This Document): 
English

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