MoU on Financial Services to Support Inclusive Economic Growth
The UK Government and the Bank of Thailand (BoT) have signed a Memorandum of Understanding (MoU), forming a strategic partnership on financial services to support Thailand’s inclusive economic recovery and green growth in line with the Sustainable Development Goals (SDGs).
Under the MoU signed on 7 August 2020, the UK and the BoT agreed to collaborate to strengthen accounting standards; to enhance corporate governance and transparency; to support the development of Financial Technology (FinTech) to facilitate greater access to finance and business opportunity for Thai FinTech industry; to promote sustainable finance; and to support resilience in the financial system.
The collaboration is enabled by the UK’s ASEAN Economic Reform and ASEAN Low Carbon Energy Programmes.
The collaboration will share strategic knowledge and expertise on new financing trends, regulatory practices, products and services. The partnership will seek to develop the financial sector to support inclusive growth with consideration for the wider implications of policies on the economy, environment – in particular risks from climate change – and those who are disadvantaged in society.
