Where am I? arrow Home arrow Official Record arrow Central Banks Arrow Monetary Policy Bank of Thailand Inflation Report – (April 2011)

Bank of Thailand’s April 2011 Inflation Report says Monetary Policy Committee raised rates to curb build up in commodity price pressures.  In principle, a foreigner who has no proof of residence in Thailand can only open a non-resident bank account; however, some Thai-based banks may, depending on their internal policy and discretion, accommodate requests from non-resident customers in opening a resident account with no proof of residence.Multinational banks tend to be stricter in selecting and screening customers, and most do not allow foreigners to open a resident bank account without proof of residence in Thailand; they allow only a non-resident bank account.

Three Foreign Entities to Issue Baht-denominated Bonds in Thailand

The Ministry of Finance has permitted three foreign entities to issue baht-denominated bonds or debentures in Thailand from 1 April to 30 September 2011, with the issue amount of 8,000 million baht each.

list of the permitted entities is as follows:

1. Australia and New Zealand Banking Group Limited: ANZ;
2. Hana Bank: Hana;
3. Shinhan Bank: Shinhan.

The Ministry of Finance, thereby, reserves the right to restrain baht-denominated bonds or debentures issuance, if there appears to be significant changes to the financial status or structure of the permitted entities, or where the economy undergoes any significant changes.
Mr. Chakkrit Parapuntakul, Director-General of Public Debt Management Office, has stated that according to the Ministry of Finance press release No. 84/2008 dated 13 November 2008, the Minister of Finance approved the amendment of the application period and guidelines to evaluate the applications to issue baht-denominated bonds or debentures in Thailand to enhance the efficiency and increase flexibility of the approval process.

Your Bank Account in Thailand: Resident or non resident?

As a foreigner in Thailand, you may wish to open a bank account in the country to accommodate your financial needs or investment portfolios. You may therefore wonder whether you can open a bank account in Thailand and what types of accounts are available to you.
There are two main types of bank accounts offered to foreigners, depending on their resident status in Thailand: a resident bank account and a non-resident bank account. This article will touch on the main differences between these account types and some other relevant conditions.