BANGKOK, 18 June 2015 – The Bank of Thailand (BoT) is confident that the move by the Department of Special Investigation (DSI) to amend the Interest Rate Act 1932 will not have any impact on the financial sector.
BoT Senior Director of Prudential Policy, Somboon Jitpenthom, has said the BoT has not seen the amendment details yet; however, it is confident that the new Interest Rate Act will not affect personal loans and credit card holders.
According to him, there is a law that has already limited an interest rate ceiling at the maximum rate of 28% and that of nano-finance at no higher than 35%. Mr. Somboon said the attempt to amend the Act is likely to keep non-formal interest rates under control.
