September 1, 2017
The Bank of Thailand (BOT)’s Notifications on Rules, Procedures, and Conditions Governing Personal Loan Business by Financial Institutions (Sor Nor Sor 14/2560) and Non-Financial Institutions (Sor Nor Sor 15/2560) were published in the Government Gazette earlier this month and will be effective from September 1, 2017. The new laws will repeal two current notifications (Sor Nor Sor 1/2560 and Sor Nor Sor 2/2560) and include additional provisions primarily aimed at protecting consumers and providing a channel for emergency loans, with important considerations outlined below.