Chalongphob Sussangkarn took over as Thailand’s minister of finance in March, following the resignation of his predecessor Pridiyathorn Devakula. A former president of independent economic think-tank the Thailand Development Research Institute, he is a key player in the interim government that was installed last year after a military coup. He spoke to Simon Montlake in Bangkok.
Cambodia has made it through a tough time and come out the other side with a respectable degree of political stability – and microcredit lending, which provides much-needed loans to the poor, has emerged as a financial front-runner. Simon Montlake reports from Phnom Penh.
Competition is heating up for a share of Brunei’s consumer finance market. Simon Montlake talks to local banks and foreign entrants about their strategies. Newcomers to Brunei might be surprised to find that its small but affluent population of 340,000 is serviced by no fewer than nine domestic and foreign banks. In a country roughly the size of the US state of Delaware, a branch is never too far away, with some staying open until 10pm on weekdays for late-night transactions.
Brunei’s relatively new status as an offshore financial centre has enabled officials to pass quickly the necessary legislation to make it a world-class location. Simon Montlake reports on the country’s attractions for foreign banks. Brunei is among the newest entrants to the competitive field of offshore financial services. In the last four years, it has introduced legislative and regulatory reforms to position the oil-rich sultanate as an attractive tax-free jurisdiction for international banks and other financial companies.