The Modern Genre of Infrastructural Law Reform: Legal and Practical Realities – The Case of Banking Reform in Thailand

Abstract

Using recent banking reforms in Thailand as a case study, the author contemplates the legal and regulatory implications of adapting "internationally accepted bank supervisory standards" for emerging and transitioning economies. The examination of the Thailand case includes a discussion of unique factors of the Thai financial sector, such as the social and political structures and the legislative process, as well as general commentary on proposed new banking legislation currently being considered by the Thai Parliament. The author also addresses the crucial issue of enforcement, with a focus on educational dimensions, good governance, Prompt Corrective Action, exit policies and consolidated and conglomerate supervision.

Keywords: banking reform-Thailand, international banking, Commercial Banking Act-Thailand, Bank of Thailand Act, economic infrastructure-Thailand, emerging economies, international best practices, banking supervision