The Bank of Thailand (BOT) is a public institution with a mandate to ‘foster a stable, sustainable and inclusive macroeconomic and financial environment’ that would allow Thai citizens to sustainably achieve higher quality of life over the long term. The economic development that affects the sustainable well-being of Thai people depends on various factors. One of which is the sound management of the financial and economic system.
According to the BOT Act, the BOT is responsible for preserving the national economic and financial stability by formulating and implementing the monetary policy, preserving financial stability, and supervising and examining the financial institutions system.
Organization’s activities :
Thailand faced new challenges especially from the changing environmental landscape. The BOT thus issued a directional paper on “Transitioning towards environmental sustainability under the new Thai financial landscape” to provide guidelines in driving the financial sector to prepare for environment-related changes while also assisting business sector and the public in transitioning smoothly, in accordance with Thailand’s goal of achieving carbon neutrality and net-zero emission.
In driving such a change, both the context and readiness of each business sector must be taken into account, since Thailand is still highly reliant on fossil fuels and still employs traditional technologies that are not yet environmentally friendly. Meanwhile, market mechanisms in the financial system that should incentivize businesses to transition, particularly SMEs, are not yet functioning optimally, potentially impacting their competitiveness in short and long term.
Key figures:
Date of creation : 10 December 1942
N° of employees : around 3,000 employees
