BANGKOK, 22 April 2014, -The Finance Ministry is to seek the Election Commission’s (EC) approval on the appointment of Managing Directors to various vacant positions in state banks, in order to ensure smooth operations.
The Permanent Secretary of the Finance Ministry, Rangsan Sriworasart has instructed state banks via the State Enterprise Policy Office (SEPO) to make appointments to their vacant executive positions, especially those of Managing Director, in the ministry’s attempt to avoid operational hiccups. He said he would propose the idea to the EC for its approval.
Mr. Rangsan disclosed that the banks in question are the Government Housing Bank (GHB), the SME Bank, the Islamic Bank of Thailand (iBank), and the Government Saving Bank (GSB). He elaborated that the GHB currently doesn’t have a President, and thus, does not have the ability to adjust pay rises, to pay bonuses, or to approve the bank’s new policies.
The SME Bank is also looking for a new Chief Executive Officer, Mr. Rangsan said, adding however that this bank can conduct the selection and appointment processes without the approval of the government.
Meanwhile, both the GSB and the iBank are urged to appoint acting presidents, the Permanent Secretary said. The banks can then forward a list of candidates for the EC’s consideration for endorsement.
