BOT Extends Loan Moratorium, Issues Guideline on Blockchain Adoption
The Bank of Thailand (BOT), along with the Thai Bankers' Association and the International Banking Association, announced the decision to provide debt moratorium for additional two months to help debtors and businesses affected due to government restrictions amid COVID-19 pandemic. Debtors can contact credit institutions to express their intention to request assistance from July 19, 2021. In addition, BOT issued a guideline for the adoption of blockchain technology in financial services. The guideline provides a framework for implementing blockchain technology to develop financial innovations while ensuring risk management. The guideline addresses the application of blockchain technology, blockchain governance, information technology risk management, and legal risk management. Business operators under the supervision of BOT are required to apply this guideline from June 04, 2021.
Related Links
- Press Release on Moratorium (in Thai)
- Press Release on Blockchain Guideline (in English)
- Guideline (PDF in Thai)
Keywords: Asia Pacific, Thailand, Banking, Blockchain, COVID-19, Regulatory Capital, Loan Repayment, Credit Risk, Fintech, Loan Moratorium, Regtech, BOT
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