Bank of Thailand targets faster, more convenient financial transactions
The Bank of Thailand (BOT) has announced that its strategy for 2018 is to use new technologies to achieve faster and more convenient financial transactions.
The Bank of Thailand. (Photo: Reuters)Bangkok (NNT/VNA) - The Bank of Thailand (BOT) has announced that its strategy for 2018 is to use new technologies to achieve faster and more convenient financial transactions.
BOT Governor Veerathai Santiprabhob revealed that the central bank will use limited sectors or "regulatory sandboxes" to test financial innovations, such as expanding QR code technology for credit card payments and blockchain technology for foreign transactions.
The bank will also examine more economic indicators to gain a better insight into the state of the country's economic performance, in addition to incorporating more big data research.
Meanwhile, BOT Assistant Governor of the Corporate Strategy and Relations Group, Chantavarn Sucharitakul disclosed that the central bank aims to connect the region's financial sectors using local currencies in the trade and investment sectors, in addition to international trade. The BOT also plans on expanding the number of branches in neighboring countries to boost the convenience of trade.-VNA
You should also see
Vietnam attends international security meeting in Russia
A Vietnamese delegation led by Minister of Public Security General To Lam is attending the 12th International Meeting of High Representatives for Security Issues in Russia’s St. Petersburg city from April 23-25.
See more
ASEAN
ASEAN Future Forum 2024 enters first session
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
ASEAN
Canada, ASEAN consolidate climate change response, economic cooperation
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN
ASEAN youth empowered to unleash potential: ASEAN chief
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
World
Thailand urged to increase proportion of renewable power generation
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
World
Indonesia lifts tsunami alert given after Ruang volcano’s eruption
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
