Top Thai regulator advises Asean peers to open markets slowly

A regulatory policy director at the Bank of Thailand warns Laos and Vietnam that liberalisation could cripple their banks if conducted too quickly


Financially underdeveloped members of the Association of Southeast Asian Nations (Asean) must open up their markets slowly to avoid crippling local banks and to limit opportunities for regulatory arbitrage, a senior Thai regulator has said.

"[Members] that are less mature need to step up development in order to compete," Somboon Chitphentom, senior director at the Bank of Thailand's (BoT) regulatory policy department, said today (May 14) at the Asean Risk Conference in Kuala Lumpur.

However, if

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