The government plans to regulate the fast - growing business of hire purchase and leasing of cars and motorcycles to maintain financial stability and protect consumers, the central bank said on Monday.
The business has grown 5.5 % on average between 2017 and 2021, with outstanding transactions at the end of last year amounting to 1.8 trillion baht ($ 50.78 billion) , or 12.3 % of total household debt , the bank said in a statement.
About a third of the transactions were conducted by non - financial firms which do not yet have clear regulations and there have been rising public complaints about the sector , the Bank of Thailand ( BoT) said without elaborating.
Public opinions on the matter will be sought from Aug 15 to 31, to help with the drafting of regulations, the BoT said.
source : Bangkok Post
August 24, 2022
