Bank of Thailand (Central Bank of Thailand)

By: EconomyWatch   Date: 9 September 2010

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The Bank of Thailand Act was promulgated on April 28, 1942 conferring the status of a juridical person on the Bank of Thailand and allowing it to carryout all central banking functions.

The Bank of Thailand started operations on December 10, 1942. As per the Bank of Thailand Act, 1942, the Minister of Finance is charged with powers to look after the overall functions of the bank. The main objective of the bank is to maintain financial system stability and the soundness of financial institutions. The objectives of the bank can be categorized as follows:

  • Conduct the monetary policy
  • Ensure the stability of the financial system in the country
  • Work towards developing a fully efficient payment system mechanism
  • To become an organization that is committed to excellence
  • To improve the image of the bank in the eyes of the common people

The general control and administration of the bank is in the hands of a Court of Directors, which consists of the Governor and the Deputy Governors and at least five other members. His Majesty appoints the Governor and the Deputy Governors. The Cabinet appoints the rest of the members of the board.

As the central bank of the country the Bank of Thailand is responsible for undertaking the following activities:

  • Promoting monetary stability and formulating monetary policies with a view to ensure and sustain domestic and external stability of the economy
  • Promoting the stability of financial institutions and supervising their activities
  • Providing banking facilities to the government and recommending policies conducive to the orderly development of the economy
  • Providing banking facilities to the financial institutions in the country
  • Holding and managing the country’s foreign exchange reserves
  • Issuing and circulating the notes and coins and other government securities

The Address and Contact details of the bank is as follows:

Bank of Thailand

Address:
P.O. Box 154 BMC
Bangkok 1000 THAILAND
Phone No.: ++66-2-283 53 53
Fax: ++66-2-280 04 49


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