Bangkok: The Bank of Thailand (BOT) is urging hire-purchase and leasing businesses to report themselves before the Royal Decree's enactment on December 2, 2025. The decree will regulate the car and motorcycle leasing industry, a sector crucial for public financing.
According to Thai News Agency, the BOT disclosed that the Royal Decree on supervising car and motorcycle leasing businesses will become effective on December 2, 2025. This directive will require business operators to report themselves, as currently, one-third of these transactions are conducted by operators lacking a specific regulatory agency.
Ms. Darunee Saeju, Assistant Governor of the Payment Systems Supervision and Financial Consumer Protection Group at the BOT, highlighted the sector's importance, noting a transaction volume of 1.6 trillion baht as of the end of 2024. This volume significantly impacts the economy and the public, with a considerable portion managed by operators without dedicated regulatory oversight.
The Royal Decree, which subjects car and motorcycle hire-purchase and leasing businesses to the Financial Institution Business Act B.E. 2551 (2008) B.E. 2568 (2025), was published in the Government Gazette on June 5, 2025. It will take effect 180 days post-publication, on December 2, 2025. This law assigns the BOT as the supervisory body for entities engaged in these businesses, aiming to enhance service standards and consumer protection, ensuring fair services and economic stability.
In preparation, the BOT has requested business operators to report to support future supervision and compliance with BOT criteria. The BOT will later announce the reporting date and period. Businesses can find more details on the BOT website or contact the BOT via email or phone.