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Brunolem

Good news for those having money in Thai banks

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7 Apr 2020

The Cabinet has approved the extension of the period to enforce the coverage of 5 million baht.

 

 

        At the Cabinet meeting on 7 April 2020, a resolution was passed to approve the extension of the enforcement of deposit protection limits in the amount of 5 million baht from 10 August 2020, extended to 10 August 2021 due to The coronary epidemic situation in 2019  has been announced by the World Health Organization as a global pandemic. And has a wide impact on many countries, both economically and socially. Including causing fluctuations in the financial markets, capital markets and financial systems around the world, including Thailand 

        Therefore, in order to resolve the effects of the corona virus outbreak in 2019 and maintain the confidence of depositors. Which

will strengthen the stability and stability of the financial institution system and the economy as a whole Therefore extend the period for enforcement of deposit protection limits With details as follows

Deposit protection limit

Duration

Set deposit protection limits

Present until 10 August 2021

Amount of 5 million baht

From Aug 11, 2021 onwards

Amount 1 million baht

 

        This extension of deposit coverage will build trust among depositors during the current situation. And makes depositors confident about using the financial institution's services normally With coverage limit of 5 million baht per person per financial institution Covering depositors up to 99.65% of the total number of depositors in the system (as of 31 December 2019) and at present, Thai financial institutions are closely supervised by the authorities 

        Mr. Songpol Chiwapanyarot The director of the Deposit Protection Agency said that this extension of the coverage limit Is a safeguarding of the interests of depositors The Deposit Protection Agency will look after the interests of the depositors to the best of their ability. In order to overcome this crisis together 

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@Brunolem thanks for the heads up but why no citation/reference?

 

@marioc thanks for the English text but again do you have a reference for it please - thanks.

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7 minutes ago, topt said:

@Brunolem thanks for the heads up but why no citation/reference?

 

@marioc thanks for the English text but again do you have a reference for it please - thanks.

My reference is the Bangkok Bank who sent me the information this morning.

 

I don't know if there is an official publication yet...

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