Virtual bank licensing requirements set

Registered capital of B5bn in veryfirst stage PUBLISHED : 6 Mar 2024 at 05: 10 Virtual banks will be controlled by the main bank, states Mr Paopoom. The Finance Ministry has revealed the requirements to use for a virtual bank licence, with preliminary authorized capital set at 5 billion baht. According to Paopoom Rojanasakul, secretary to the financing minister, on March 4 the Royal Gazette released the requirements, needing virtual banks to develop a headoffice in Thailand with preliminary authorized capital of at least 5 billion baht in the veryfirst stage and 10 billion in the 2nd stage. Joint endeavors are permitted to integrate particular knowledge. After acquiring a licence, the capital boost to 10 billion baht can be carriedout in stages over a duration of 5 years upuntil the optimum signedup capital requirement hasactually been reached. Mr Paopoom stated virtual banks will concentrate on offering monetary services to individuals without routine
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