BoT pushes liberalisation under new plan, writes Bangkok Post.
As any normal human being, you would feel excited. So you decide to continue to read. And gradually, you feel baffled and eventually you end up in tears. That’s the beauty of Thailand : a perpetual source of exercise for our zygomatic muscles.
Thailand’s new financial master plan will offer greater opportunities for foreign banks, says Bank of Thailand governor Tarisa Watanagase. […] The central bank’s second financial-sector master plan would gradually liberalise the sector from 2010-14. […]
From 2012-13, the central bank will allow greater competition within the sector, starting by allowing foreign banks to open up to two branches in addition to their head offices.
Do you know, as of september, what is the total number of branches of commercial banks in Thailand ?
I repeat : 5 673
I know, the proper word is : “surreal”. 😉
(source BOT, FI_CB_060_S2)
So after giving a huge, astronomical boost to foreign banks (allowing them to open 2 more branches)… then come the final blow :
The central bank has no plans to offer new universal banking licences, seeing the current 15 banks as enough for the country’s needs.
Voila. 😉 The words “competition” and “liberalisation” in Tarisa’s mouth mean : “we don’t need more banks”.
Surreal. Just surreal. But so tasty. Viva Tarisa !
PS : since I study Thailand, there is one great mystery I was unable to solve : do they really believe the non-sensical words coming out of their mouth… Or do they really think that foreigners are totally and definitely stupid ? To this day, I’m still wondering…