The MoU was signed in Singapore by MAS managing director Heng Swee Keat and BOT Governor MR Pridiyathorn Devakula. MAS said in a statement that the MoU provided a formal basis for banking supervisory cooperation between the two authorities.

It allows for cooperation in areas of information-sharing and communication during the licensing process and ongoing supervision of banks operating under their respective supervisory responsibilities.

Nissan deals for flood victims

To assist survivors of flash-floods and landslides, Siam Nissan Automobile Co Ltd, together with its dealers in the North, has launched a special discount campaign.

The campaign features 50 per cent off of car service charges and 30 per cent off of spare parts. In addition, the company will send a mobile caravan of technicians to repair Nissan cars damaged in five provinces: Uttaradit, Phrae, Nan, Sukhothai and Lampang.

Ministry acts on rice pledging

The Commerce Ministry will move quickly to increase rice-pledging locations in five northern provinces suffering from flash-floods.

The measure will protect farmers from millers trying to purchase rice at lower-than-market prices.

 Caretaker Deputy Commerce Minister Preecha Laohapongchana said farmers in Uttaradit, Phrae, Nan, Sukhothai and Lampang had complained about millers lowering their purchasing price to Bt5,000 per tonne. The government pledging price is Bt7,100.