THAI PRESS: New Bks To Be Processed Despite Bill Delay

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Tuesday 9 November 1:22 PM

THAI PRESS: New Bks To Be Processed Despite Bill Delay

DJ THAI PRESS: New Bks To Be Processed Despite Bill Delay

BANGKOK (Dow Jones)--Bank of Thailand said it will continue to process applications for the establishment of new banks under the country's new financial master plan, despite a possible delay in the new financial institution business bill, the Post Today reports, quoting central bank Deputy Governor Tarisa Watanagase.

Finance Minister Somkid Jatusripitak earlier said the ministry might not be able to submit the bill for reading in the current parliamentary session, which will close by the end of this month.

Tarisa said with or without the new bill, the implementation of the master plan will go forward.

She said the new banks could be established under existing banking laws, but the process would be more complicated. Currently, about 12 financial institutions are asking for an upgrade to banks.

The report says there has been speculation the finance ministry wants more time to review the bill and would prefer that it isn't passed in the current session as the bill would give the central bank too much supervisory power.

Newspaper Web site: http://www.posttoday.com

-By Bangkok Bureau, Dow Jones Newswires; 662 266 0744; djn.bangkok@dowjones.com

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