No bid to seize Thaksin's assets yet: BOT boss
Bank of Thailand Governor MR Pridiyathorn Devakula warded off speculation yesterday that officials had seized assets belonging to ministers from ousted Prime Minister Thaksin Shinawatra's Cabinet by blocking international money transfers.
"If the sum is less than US$10 million [Bt377 million] in a year, the transaction can be done without the central bank's approval," he said. Asked if authorities had frozen the Bt73 billion that Thaksin and his family earned from selling their stake in Shin Corp to Temasek Holdings of Singapore, Pridiyathorn said it was not true. "There has not been any freeze of assets because they have not been deemed criminals," he said. A lawyer said that martial law would generally empower the Administrative Reform Council to order the Bank of Thailand to freeze the assets of Cabinet members. Seree Suwanpanont, an ex-senator for Bangkok, said he expected a committee would be set up to look into corruption allegations in regard to the deposed PM and his ministers. He said asset seizures would be proper punishment for people found to have amassed wealth dishonestly. The Bank of Thailand announced that normal banking operations would resume today after commercial banks were asked to take a day off yesterday. In a statement, the central bank said it has been closely monitoring the movement of the baht. The currency weakened on Tuesday night but has now stabilised at a satisfactory level. The BOT said it would permit both local and foreign financial institutions to resume trading in the baht effective immediately, with payments and settlements from today onwards. Yesterday, commercial banks' micro branches in department stores were allowed to open but they were not allowed to proceed with new international money transfers. Khunying Jada Wattanasiri-tham, president of Siam Commercial Bank Plc and chair of the Thai Bankers' Association, said the central bank informed bankers that micro branches were allowed to proceed with fund transfers ordered up till Tuesday. But banks were not allowed to conduct transactions for new orders placed yesterday. However, the banks will resume full operations today. Former Bangkok senator Sopon Supapong yesterday said an urgent goal for the coup-makers should be to ensure there was a mechanism to stamp out corruption and deal with corrupt authorities systematically.
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