Bat Thanakarn or Banknotes. As the government could not supply Thai coins in response to the expansion of economy and trade, Three foreign commercial banks including the Hong Kong and Shanghai Banking Corporation, the Chartered Bank of India, Australia, and China and the Banque de L’ Indo-Chine had been granted permission to operate and issue banknotes to expedite the clearing of debts between the bank and its customer in 1889, 1898 and 1899 respectively,