Parliament of Thailand - Financial Institution Business Act, 2008


The Parliament of Thailand's Financial Institution Business Act, 2008 seeks to enhance the risk management measures of financial institutions in the country, to ensure prudential oversight and protect the damage which may result from financial institutions undertaking. The act also aims to maintain economic stability and entrust the depositors and the public by prescribing good governance rules for any person who performs the duty of a director, a manager, an officer or a person with power of management of a financial institution. The act is divided into several chapters, and sets forth provisions on the following topics:

1. Formation and License Application
2. Structure of Financial Institution
3. Maintenance of Capital Funds and Assets
4. Investment of Financial Institutions
5. Business Undertaking
6. Restriction on Granting of Credits
7. Financial Business Group
8. Asset Classification and Provisioning
9. Asset Management and Maintenance of Liquid Assets
10. Accounting, Reporting and Auditors
11. Merger, Transfer and Dissolution
12. Examination of Financial Institutions
13. Rectification of Condition or Operation of Financial Institutions
14. The Control of Financial Institutions
15. Supervision of Specialized Financial Institutions
16. Penalties

Document Details

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Date of Document: 
Sunday, July 27, 2008
Document Authors: 
Parliament of Thailand
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