Economy April 18, 2018 01:00

By The Nation

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The Cabinet yesterday approved a plan to set up a Financial Technology Development Institute to spur growth in the country’s financial technology (fintech), Nattaporn Jatusripitak, a spokesman for the deputy prime minister for economics, said yesterday.

He said the Cabinet also signed off on a budget to establish a Fintech Fund worth Bt650 million for the 2018-19 fiscal year and Bt513 million for the years from 2020 to 2022.

Also gaining the green light was a measure to support the banking system by facilitating mergers and acquisitions, especially through tax incentives.