Business Services Industry
Thai Finance Ministry Announces New Credit-Card Rules.
Knight Ridder/Tribune Business News, November, 2002
By Wichit Sirithaveeporn, Bangkok Post, Thailand Knight Ridder/Tribune Business News
Nov. 12--The Finance Ministry yesterday formally approved a new regulatory framework governing the issue of credit cards.
The ministerial announcement covers cards issued by banks and, for the first time, those issued by other businesses and managed by non-bank institutions such as GE Capital and Aeon Thana Sinsap Plc.
The Bank of Thailand is scheduled to issue a circular today detailing the terms of the new framework, which will take effect for all issuers in 60 days.
Somchainuk Engtrakul, permanent secretary for Finance, said the framework would also cover debit cards used in conjunction with credit cards, although pure debit cards would be...
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