ID :
186933
Tue, 06/07/2011 - 12:03
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http://m.oananews.org//node/186933
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BOT chief dismisses report on cash flown out
BANGKOK, June 7 (TNA) - Bank of Thailand (BOT) Governor Prasarn Trairatvorakul affirmed on Tuesday that he had not informed the Royal Thai Police of any disappearance of some 10 billion baht from the country's formal financial system over the past two weeks, as rumoured, and had not been reported from officials concerned on any irregularity either.
Prasarn acknowledged, however, that it is technically difficult to detect the disappearance of a sum of some 10 billion baht, if any, as it accounts for only about one per cent of Thailand's overall cash circulations of over one trillion baht in the formal system.
The BOT chief said if given any tip-off at any specific location, the Thai central bank would be able to find out more easily whether there was any irregularity, insisting that the BOT, which oversees all financial institutes in the country, would be cooperating well with authorities concerned and any of those who provide tip-offs on inspecting any commercial bank or financial institute in any targeted area regarding the suspicious cash outflow of the formal system.
The BOT governor also dismissed as irrationality reports that the suspicious 10 billion baht cash was remitted from overseas, saying that there had been no evidence to back the speculation although there was a total investment fund of about 11 billion US dollars flowing into the Thai economy in the first five months of this year.
The Thai central bank chief declined to give any comment over any possibility of someone's spreading such rumours as a political ploy in the run-up to the country's upcoming general election on July 3. (TNA)
Prasarn acknowledged, however, that it is technically difficult to detect the disappearance of a sum of some 10 billion baht, if any, as it accounts for only about one per cent of Thailand's overall cash circulations of over one trillion baht in the formal system.
The BOT chief said if given any tip-off at any specific location, the Thai central bank would be able to find out more easily whether there was any irregularity, insisting that the BOT, which oversees all financial institutes in the country, would be cooperating well with authorities concerned and any of those who provide tip-offs on inspecting any commercial bank or financial institute in any targeted area regarding the suspicious cash outflow of the formal system.
The BOT governor also dismissed as irrationality reports that the suspicious 10 billion baht cash was remitted from overseas, saying that there had been no evidence to back the speculation although there was a total investment fund of about 11 billion US dollars flowing into the Thai economy in the first five months of this year.
The Thai central bank chief declined to give any comment over any possibility of someone's spreading such rumours as a political ploy in the run-up to the country's upcoming general election on July 3. (TNA)
