The Bank of Thailand (BOT) ( Abrv: ธปท.; th, ธนาคารแห่งประเทศไทย, ) is the

central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central b ...

Thailand Thailand ( ), historically known as Siam () and officially the Kingdom of Thailand, is a country in Southeast Asia, located at the centre of the Indochinese Peninsula, spanning , with a population of almost 70 million. The country is bo ...

History

The Bank of Thailand (BOT) was first set up as the Thai National Banking Bureau. The Bank of Thailand Act was promulgated on 28 April 1942 vesting upon the Bank of Thailand the responsibility for all central banking functions. The Bank of Thailand started operations on 10 December 1942. The Bank of Thailand Act,

B.E. A Bachelor of Engineering (BEng) or a Bachelor of Science in Engineering (BSE) is an academic undergraduate degree awarded to a student after three to five years of studying engineering at an accredited college or university. In the UK, a Bache ...

2485 was later amended in order to put emphasis on its social responsibility, to create a mechanism to guard against economic crisis, as well as to set up its decision making process to ensure good governance and transparency in the organization. The Bank of Thailand Act, B.E. 2551 came into force on 4 March 2008.

Roles and responsibilities

The Bank of Thailand's mission is to provide a stable financial environment for sustainable economic growth in order to achieve continuous improvement in the standard of living of the people of Thailand.

Governors

The Governor of the Bank of Thailand has a five-year term of not more than two consecutive terms. The

Minister of Finance A finance minister is an executive or cabinet position in charge of one or more of government finances, economic policy and financial regulation. A finance minister's portfolio has a large variety of names around the world, such as "treasury", " ...

nominates a candidate to the

Thai Cabinet The cabinet of Thailand or, formally, the Council of Ministers of Thailand ( th, คณะรัฐมนตรี; is a body composed of thirty-five of the most senior members of the government of the Kingdom of Thailand. The cabinet is the pri ...

. When the cabinet passes a resolution approving the candidate, it is presented to the monarch for his approval.

List of governors

References

External links

Official website
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