Annual Report

	Annual Report 2010 The Bank of Thailand (BOT) and its Payment Systems Committee (PSC) are entrusted with an important role in fostering the efficiency, safety and soundness of Thailand's payment systems, which are key infrastructures to sustain economic development.
	Annual Report 2009 In 2009, the Bank of Thailand (BOT) appointed new members to its Payment Systems Committee (PSC) in accordance with the enactment of the amended BOT Act B.E. 2551 (2008). This has established the task of maintaining payment systems stability as another central bank core mandate in addition to preserving monetary and financial institutions stability.
	Annual Report 2008 The business of payment services has evolved rapidly with advancing technology, trending towards more use of efficient electronic payments and non-bank service providers. Since efficient and secured payment systems are vital to a vibrant economy, regulators around the world have become more involved in reshaping the payment service businesses. Accordingly, the Bank of Thailand Act (IV), enacted in early 2008, recognizes the maintenance of payment systems stability as one of the central bank’s core mandates, in addition to ensuring monetary and financial institution stabilities.
	Annual Report 2007 Payment system plays an increasingly important economic role in today’s age of information technology. Not only does it serve as effective ffiifinancial management tools for business sector and basic infrastructures for new businesses and services, including Electronic commerce via internet and mobile phone, it has also become part of public services and people’s day-to-day living. Any disruption to the payment systems could therefore have adverse implications on the overall economy and social welfare.
	Annual Report 2006 One ongoing agenda engaged by the PSC is to steer the Thai society away from cash and cheque-usage to electronic ones so as to increase the overall efficiency of the country. Although we plan for a decline in cheque usage, cheque will still be a dominant means of payment for businesses and the reduction in processing costs of cheques is still very relevant. We are planning to implement a new cheque clearing processing to allow the use of digital images of cheques and to truncate the movement of physical cheques early in the collection stream.
	Annual Report 2005 Another major transition in the Thai payment systems was observed in 2005, starting from an announcement by BOT to change its role to oversee local payment systems, gradually transfer the role as payment service provider to private sectors. The new BOT role will allow the local payment systems industry to catch up with the changing systems and procedures, and emergence of some non-bank institutions, including penetration of overseas service providers. Attention should be paid to the recent changes in business undertaking styles, especially the shift toward creation of business alliances, such as cooperation among commercial banks and cell phone service providers, etc.
	Annual Report 2004 Since 1 November 2004, BOT has instigated the operation of new cash management center whereby commercial banks are now responsible for cash sorting and cash storing activities, the tasks of which were previously handled by BOT. Such a major change not only reflect another closer step to global practices, but also signal every relevant party; notably commercial banks wholesale or retail suppliers and general public that it is time to be accountable for real cost burden generated by payment services they have opted for. Ultimately, this should lead to an improvement in working procedures as well as a more appropriate direction of cash usage behavior.
	Annual Report 2003 In 2003 payment policy was focused on improving and developing the efficiency of the payments system to increase the number of various payments means to encourage economic savings, which will result in lowering costs and fees paid by consumers accordingly. Work carried out including the followings: The Cheque Truncation Project, The Proactive Public Relations Project and The Payment Systems Costs and Pricing Project.
	Annual Report 2002 A convenient, efficient and safe payments system facilitates the smooth functioning of the economic and financial sectors. Moreover, it serves as a mechanism that supports international trade and investment linkages, contributing towards stability in the whole financial system, cost reductions in the economic system, and the smooth operation of monetary policy. The Bank of Thailand has conducted work in three major areas between 2001-2002 to ensure the efficient operations of the payment systems. This includes work on policy, organizational structure, and systems development.