Table 1
The introduction of corollary institutions
Year Institution Further information
2005 National Credit Bureau Merger of the two credit bureaus that were started in 2003 by the Thai
Bankers Association (focused on firms) and by the Government Housing
Bank (focused on individuals), respectively.
2004 Real Estate Information
Centre
An independent unit within the Government Housing Bank to make
property data (including transactions) available to the market.
2007 Deposit Insurance
Agency
To be introduced in 2007.
Since 1998 Foreclosure law,
bankruptcy law
Ongoing changes: from almost no protection of debtors and creditors to
some. The foreclosure law is still regarded as debtor friendly (too timeconsuming
to realize collateral). The bankruptcy law is still regarded
being biased in favor of debtors (creating delays).
1999 Thai Institute of
Directors
To improve corporate governance practices, for example through
educational programs. The government also supported the creation of
the Federation of Accounting Profession (standardization and code of
conduct).