UK and SEC Thailand Sign Agreement on Financial Services

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by KnowESG
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The UK Government and the Securities and Exchange Commission of Thailand (SEC Thailand) signed a new agreement on Financial Services to bolster their partnership in the financial sector.

It will encourage inclusive economic growth and help Thailand transition to a low-carbon, sustainable economy. It builds on the previous agreement the two groups have been working on for the past few years.

The UK and SEC Thailand previously collaborated, with the UK providing technical assistance in areas such as accounting standards, the development of a FinTech ecosystem, sustainable finance such as green bonds and climate risk disclosure for listed companies, e-Know Your Customer (e-KYC), and cybersecurity.

The new deal will focus on helping Thailand improve the regulatory environment for the FinTech sector, promote sustainable finance, and make more people in Thailand and other ASEAN countries aware of sustainable investment.

The collaboration will be funded by the UK's ASEAN Economic Reform Programme and the UK's Partnering for Accelerated Climate Transitions Programme. Both of these programmes encourage sharing of knowledge and expertise as well as regular practices in financial technology and sustainable finance.

Ms. Ruenvadee Suwanmongkol, Secretary-General of SEC Thailand, said:

"FinTech and sustainable finance are key areas emphasised by SEC Thailand. We strongly believe that the new MoU with the UK Government will support the enhancement of the financial ecosystem as well as promote the development for inclusive and sustainable economic growth."

Recognising the partnership, Mark Gooding, His Majesty’s Ambassador to Thailand, said:

"Financial services are a key driver of the modern economy. We are proud to take another step in our long-time partnership with SEC Thailand with a particular focus on the cutting edge of finance: FinTech and sustainability."

For more sustainable finance news

Source: UK Govt.

Click here to read the previous agreement on Financial Services Year 2020

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