January 2004 • Council of Ministers acknowledges FSMP thereby initiating Phase I of the
FSMP
• Ministry of Finance and Bank of Thailand issues notifications and circulars
regarding rules and procedures concerning application for commercial bank
license, branch or subsidiary of foreign bank, and One-presence policy
• Minister of Finance established the Committee to review application to
establish a commercial bank in accordance with the Financial Sector Master
Plan.
• Bank of Thailand presented details of the FSMP to representatives of financial
institutions under the supervision of the Bank of Thailand.