The 1997 financial crisis and its subsequent economic fallout highlighted many deficiencies within Thailand’s financial system. Since that time, relevant government authorities, together with private sector players, have instituted deep-rooted reforms aimed at halting the economic contraction, restore investor confidence, and return the financial sector to a sustainable development path. One of these initiatives was the Financial Sector Master Plan (FSMP), a 5-10 year medium-term development plan for financial institutions under the supervision of the Bank of Thailand.

For the purpose of this Handbook, Chapter 1 guides the reader through the deliberation process and rationale behind the initiation of the FSMP, in addition to the methodology used to promote public participation in the project.  Chapter 2 focuses on how authorities formulated the FSMP’s three main objectives, its complementary policy recommendations and action plans using factual data deduced from surveys, focus groups, and research studies. Chapter 3 then provides an update on the progress of implementation so far, while the appendices provide readers with background material such as the Governor’s speech and summaries of the result from the nationwide survey concerning households and corporate perception of current financial services. The appendices in turn offer helpful insights into the rationale, research and surveys that formed the basis of the FSMP.