Thai central bank allows non-banks to apply for FX e-money licenses

Non-bank operator wishing to apply for a license must be a Thai entity

  
Thailand's central bank is seen at the Bank of Thailand in Bangkok, Thailand in this April 26, 2016 file photo.

Thailand's central bank is seen at the Bank of Thailand in Bangkok, Thailand in this April 26, 2016 file photo.

REUTERS/Jorge Silva/File Photo

BANGKOK - Thailand's central bank said on Friday it has allowed non-bank operators to apply for foreign exchange e-Money (FX e-Money) licenses from June 26, to enhance ease of doing business and foreign exchange transactions.

Any non-bank operator wishing to apply for a license must be a Thai entity with a minimum registered paid-up capital of 100 million baht ($3.24 million) and must have an electronic money service business license, the central bank said in a statement.

The new license will allow non-bank operators to issue e-money in foreign currencies for customers' payment of cross-border goods and services, it said. ($1 = 30.91 baht)

(Reporting by Orathai Sriring; Editing by Martin Petty) ((orathai.sriring@tr.com; +662 0802309;))

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