Cabinet nods to rise in Islamic Bank capital 

Economy September 05, 2018 01:00

By The Nation

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The Cabinet yesterday approved  the proposed  increase in registered capital of Islamic Bank by Bt18 billion, Finance Minister Apisak Tantivorawong said. 

Bt2 billion of total will come from government  budget, while Bt16 billion will be provided under the Emergency Decree of Fund for Development of System of Special Financial Institute, he said. 

The Cabinet also approved the Research and Innovation Act which allows  researchers on scholarship to be the owners of their inventions . They can also share in the benefits when a company is interested in investing in their products. 

It marks a change from previous policy which gave ownership of  innovative products to the institue providing the scholarship, said  minister adviser to Prime Minister’s Office Nattaporn Jatusripitak.

He added that a researcher can own and share benefits for two years after the project is completed and launched  in the market. After two years, the ownership right will belong to the institute which provides the scholarship.