Thailand’s Finance Ministry introduced that it’s going to start accepting functions for digital financial institution licenses throughout the subsequent six months, aiming to increase monetary inclusion for these with restricted or no entry to conventional banking providers.
In response to Reuters, the ministry additionally launched tips for candidates, who might want to exhibit expertise and sources ample to assist a industrial banking enterprise mannequin.
Authorities will consider functions inside 9 months of the submission interval closing, with profitable candidates given one yr to arrange and launch operations.
Whereas the variety of licenses will not be capped, they are going to be awarded primarily based on what’s deemed appropriate for the soundness of the Thai monetary system, the ministry added.
Featured picture credit score: Edited from Freepik
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