Thailand post offices nationwide could be transformed into microfinance outlets as part of the government’s bid to extend financial services to lower-income groups, said Finance Minister Korn Chatikavan. An article from The Bangkok Post states that the Thailand Postal Service is awaiting approval from the Bank of Thailand to begin offering microfinance services at its 1,200 branches.
State banks who already have microfinance programs such as the Government Savings Bank (GSB) and the Bank for Agriculture and Agricultural Co-operatives (BAAC) “would collaborate [with the postal service] to establish ‘local financial advisers’ to offer assistance to villagers about basic household financial planning and accounting” Mr Chtikavan said.
By Matthew Fox, Research Assistant
Sources and Additional Resources
The Bangkok Post: Thailand Post May Provide Microfinance Centers, 31 August 2010: http://www.bangkokpost.com/business/economics/193808/thailand-post-may-provide-microfinance-centres
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