The New Thai Financial Sector Master Plan: Are You Ready?

IDC Financial Insights is proud to once again bring together the Thai banking and insurance industry to discuss opportunities in the market and how market players are to best compete in the years ahead. This Business Transformation event is organized at a very opportune time as the market asseses the impact of the country's new Financial Sector Master Plan (FSMP II).

In November 2009, the Ministry of Thailand and the Ministry of Finance released key provisions of the new financial sector master plan, to be implemented between 2010 and 2014, following the successful implementation of the 2004-2008 master plan.

The 2010 master plan promises to transform the industry. It will affect all financial institutions competing in Thailand's increasingly crowded marketplace. The changes that the master plan brings will also have an impact on all other industry players such as technology vendors, service bureaus, technology service providers, other non-bank financial institutions, and the public at large.

Essentially, the financial master plan aims to develop a stable, competitive and modern financial industry in Thailand. The details of the plan however underscore sweeping changes ahead, designed to help the industry to:

Reduce Operating Cost

• Reduce compliance costs through the rationalization of regulation
• Reduce carrying costs associated with non-performing assets (NPAs)
• Development of market mechanisms that help dispose NPAs

Meet twin goals of increased competition and financial access

• Promote more bank mergers
• Allow opening of more branches
• Support initiatives that build economies of scale and scope
• Expand business scope of existing banking players
• Ensure continued viability and resiliency of financial institutions
• Allow entry of new foreign players
• Promote financial inclusion - bringing financial services to low-income population and micro businesses
• Reduce government ownership of financial institutions

Strengthen financial infrastructure

• Enhance risk management systems to effectively cover credit, market, liquidity, and settlement risks
• Enhance the capability of the national credit bureau
• Review laws concerning lending and delinquencies
• Promote greater efficiency in the use of information technology
• Focus on data security
• Enhance the capacity of human resource in the financial institutions system by improving the skills and expertise of staff

Who Should Attend?

Attendee profiles will also include : CEOs, COOs, CFOs, CIOs, MDs, Directors, VPs and Senior Managers, MIS Managers, Research & Development, Finance, and IT & Operations and Project Managers from some of these industries: Banking, Insurance and Investment houses.

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