[THAILAND ECONOMIC NEWS] Good morning everyone I am Rumi Dhar from Kama Group.
Here I have important THAILAND economic news to share with you which is as mentioned
under.

The UK Government, represented by the British Embassy Bangkok, and the Bank of Thailand
(BoT) signed a Memorandum of Understanding (MoU) on financial services cooperation on 30
November 2022. Building on the previous MoU, this MoU aims to strengthen the strategic
partnership between the two parties and support Thailand’s efforts to improve financial
inclusion and promote sustainable growth, in line with the Sustainable Development Goals.

Under the previous MoU, the UK has provided technical assistance to the BoT in a range of
projects, including those to help strengthen accounting standards; promote sustainable
finance; support the resilience of the financial system; and support the development of the
financial technology (FinTech) sector to help facilitate greater access to finance and create
business opportunities for the Thai financial industry.

With the new MoU, the UK and the BoT will continue to strengthen their partnership in
promoting inclusive economic growth, in alignment with the BoT’s strategy to reposition
Thailand’s financial sector towards a sustainable digital economy. In particular, the UK and
the BoT will work together to enhance the regulatory framework, encourage innovation
that would improve financial inclusion, as well as promoting sustainable finance and
sustainability-related disclosures in the Thai financial sector.

The collaboration will entail the sharing of knowledge, expertise, studies, as well as regulatory
practices on digital and sustainable finance. It is enabled by the UK-funded ASEAN Economic
Reform Programme and the UK’s Partnering for Accelerated Climate Transitions Programme.

The Governor of the Bank of Thailand, Mr. Sethaput Suthiwartnarueput, said

We welcome the continued partnership between the UK and Thailand in the area of financial
services. The Bank of Thailand aims to support the adoption of financial innovation to improve
financial inclusion, internalise environmental risk into banks’ operations, and support
businesses’ transition towards more sustainable activities in the least disruptive manner.
We appreciate the opportunity to learn from the UK’s experience and insight, as they share
similar goals for their financial sector."


Read more at: https://www.gov.uk/government/news/the-uk-and-the-bank-of-thailand-sign-new-mou-on-financial-services-to-support-inclusive-economic-growth

KAMA GROUP
New Delhi
Have a nice day