Bangkok: The Ministry of Finance and BoT help non-performing debtors in the specialized financial institution system. Therefore, there are temporary measures to encourage specialized financial institutions and asset management companies (AMCs). )Invest in a joint venture to operate a distressed asset management business. (Joint venture) within a period of 15 years by establishing a joint venture. To be completed by 31 December 2024.
Mr. Ronadon Numnon, Deputy Governor for Financial Institution Stability The Bank of Thailand (BoT) revealed that the recent outbreak of the coronavirus disease 2019 has had a wide impact on the economy. and has a continuous impact on the management of non-performing assets and providing assistance to debtors of specialized financial institutions
The Ministry of Finance and BoT discussed together and realized the need to provide assistance to distressed debtors in the specialized financial institution system. Therefore, there are temporary measures to encourage specialized financ
ial institutions. and asset management companies Invest in a joint venture to operate a distressed asset management business. (Joint venture) within a period of 15 years by establishing a joint venture. To be completed by 31 December 2024.
This joint venture will provide assistance to distressed debtors, such as debt restructuring. Adjust installments and repayment conditions to suit the debtor’s actual problems and circumstances. This will increase opportunities for debtors to manage their debts and reduce barriers to accessing capital in the next phase. and is considered part of the measures under the guidelines for resolving debt throughout the government system.
The BoT hopes that such measures It will give the debtor the opportunity to receive additional ongoing assistance. At the same time, specialized financial institutions can manage non-performing assets more efficiently. Including being able to allocate available resources to support operations according to government missions and policies. In par
ticular, solving the debt problem for the people in the next period will be better and more flexible.-511-Thai News Agency
Source: Thai News Agency