Developing non-bank financial institutions is crucial for stable economic growth in the future, according to Prasarn Trairatvorakul, the secretary-general of the Securities and Exchange Commission of Thailand.
Non-bank financial institutions (NBFI) included factoring firms, securities and asset management firms, life insurers, leasing companies and various contractual savings funds.
The SEC and the World Bank are sponsoring a regional seminar on NBFIs from 4 to 6 September at the Plaza Athenee Hotel in Bangkok. About 500 delegates from Thailand and the region are expected to attend.
Dr Prasarn said the seminar would serve as a platform for executives from financial institutions to exchange views with regulators about past experiences and future development strategies.
"In the aftermath of the economic crisis, Thailand has learned its lesson that depending on bank lending alone is insecure," he said.
