Thai central bank allowed to regulate auto leasing: ministry

THAILAND’S cabinet on Tuesday (Mar 7) approved a law to allow the central bank to regulate the growing business of leasing cars and motorcycles, in an effort to strengthen consumer protection and tackle household debt, the Finance Ministry said.

Transactions in the auto leasing sector accounted for 12.4 per cent of total household debt, and were on an upward trend, the ministry said in a statement.

The law will also ensure consumers are treated more fairly, it said.

The cabinet also let the central bank extend its soft loan programme for smaller firms until early April 2024, the ministry said.

The support measures will help business operators receive funds with appropriate interest rates during the ongoing economic recovery and in the future, it said. REUTERS