The state-owned Islamic Bank of Thailand (IBank) believes its capital-adequacy ratio will return to positive territory this year. The expectation stems from applying the Finance Ministry's loan-loss provision requirements, which are less stringent than…
<p>The Finance Ministry has set up a committee to investigate the past work of former president of Islamic Bank of Thailand, Thanin Angsuwarangsi. Finance Permanent Secretary Areepong Bhoocha-oom said that the investigation will focus on employees’ petitions, which must be clarified though Thanin already resigned. Thanin's resignation after only six months in office followed employees' pressure. Over 1,400 employees signed the petition to the board, saying that a number of the president's decisions caused damage to the bank.</p>
<div>
<div>Source: </div>
<div>
<div>
<p><a href="http://www.nationmultimedia.com/business/Finance-to-investigate-former-bank-chief-30209463.html" title="http://www.nationmultimedia.com/business/Finance-to-investigate-former-bank-chief-30209463.html">http://www.nationmultimedia.com/business/Finance-to-investigate-former-b…</a></p>
</div>
</div>
</div>
<div>
<a href="http://www.facebook.com/plugins/like.php?href=http%3A%2F%2Fwww.islamicfinance.de%2F%3Fq%3Dnode%2F5348&layout=button_count&show_faces=false&action=like&colorscheme=light&width=100&height=21&font=&locale=" title="I Like it" rel="nofollow" target="_blank"><span>Facebook Like</span></a> <a href="http://www.islamicfinance.de/?q=node/5348" title="Plus it" rel="nofollow" target="_blank"><span>Google Plus One</span></a> <a href="http://twitter.com/share?url=http%3A%2F%2Fwww.islamicfinance.de%2F%3Fq%3Dnode%2F5348&count=horizontal&via=&text=Finance%20to%20investigate%20former%20bank%20chief&counturl=http%3A%2F%2Fwww.islamicfinance.de%2F%3Fq%3Dnode%2F5348" title="Tweet This" rel="nofollow" target="_blank"><span>Tweet Widget</span></a> <a href="http://www.islamicfinance.de/?q=node/5348" title="Share on Linkedin" rel="nofollow" target="_blank"><span>Linkedin Share Button</span></a> <a href="http://www.facebook.com/sharer.php?u=http%3A%2F%2Fwww.islamicfinance.de%2F%3Fq%3Dnode%2F5348&t=Finance+to+investigate+former+bank+chief" title="Share on Facebook." rel="nofollow" target="_blank"><img src="http://www.islamicfinance.de/sites/default/modules/service_links/images/facebook.png" alt="Facebook" title="" width="16" height="16"></a> <a href="http://www.google.com/bookmarks/mark?op=add&bkmk=http%3A%2F%2Fwww.islamicfinance.de%2F%3Fq%3Dnode%2F5348&title=Finance+to+investigate+former+bank+chief" title="Bookmark this post on Google." rel="nofollow" target="_blank"><img src="http://www.islamicfinance.de/sites/default/modules/service_links/images/google.png" alt="Google" title="" width="16" height="16"></a> <a href="http://bookmarks.yahoo.com/myresults/bookmarklet?u=http%3A%2F%2Fwww.islamicfinance.de%2F%3Fq%3Dnode%2F5348&t=Finance+to+investigate+former+bank+chief" title="Bookmark this post on Yahoo." rel="nofollow" target="_blank"><img src="http://www.islamicfinance.de/sites/default/modules/service_links/images/yahoo.png" alt="Yahoo" title="" width="16" height="16"></a> <a href="http://del.icio.us/post?url=http%3A%2F%2Fwww.islamicfinance.de%2F%3Fq%3Dnode%2F5348&title=Finance+to+investigate+former+bank+chief" title="Bookmark this post on del.icio.us." rel="nofollow" target="_blank"><img src="http://www.islamicfinance.de/sites/default/modules/service_links/images/delicious.png" alt="del.icio.us" title="" width="16" height="16"></a> <a href="http://www.linkedin.com/shareArticle?mini=true&url=http%3A%2F%2Fwww.islamicfinance.de%2F%3Fq%3Dnode%2F5348&title=Finance+to+investigate+former+bank+chief&summary=The+Finance+Ministry+has+set+up+a+committee+to+investigate+the+past+work+of+former+president+of+Islamic+Bank+of+Thailand%2C+Thanin+Angsuwarangsi.+Finance+Permanent+Secretary+Areepong+Bhoocha-oom+said+that+the+investigation+will+focus+on+employees%E2%80%99+petitions%2C+which+must+be+clarified+though+Thanin+already+resigned.+Thanin%27s+resignation+after+only+six+months+in+office+followed+employees%27+pressure.+Over+1%2C400+employees+signed+the+petition+to+the+board%2C+saying+that+a+number+of+the+president%27s+decisions+caused+damage+to+the+bank.%0A&source=IslamicFinance.de" title="Publish this post to LinkedIn" rel="nofollow" target="_blank"><img src="http://www.islamicfinance.de/sites/default/modules/service_links/images/linkedin.png" alt="LinkedIn" title="" width="16" height="16"></a> <a href="http://digg.com/submit?phase=2&url=http%3A%2F%2Fwww.islamicfinance.de%2F%3Fq%3Dnode%2F5348&title=Finance+to+investigate+former+bank+chief" title="Digg this post on digg.com" rel="nofollow" target="_blank"><img src="http://www.islamicfinance.de/sites/default/modules/service_links/images/digg.png" alt="Digg" title="" width="16" height="16"></a>
</div>
<p>Thanin Angsuwarangsi has tendered his resignation as the president of Islamic Bank of Thailand, only after six months in office. The bank’s board of directors announced that his resignation has been approved. Thanin’s decision followed employees’ pressure. Over 1,400 employees signed the petition to the board, saying that a number of the president’s decisions caused damage to the bank. Among the allegations, Thanin was alleged of ordering bank executives to cancel a lending and loan disbursement procedure, which affected borrowers financially and resulted in higher non-performing loans. The employees pointed out that the bank’s NPLs rose from Bt24 billion in November 2012 to over Bt38 billion in April 2013.</p>
<div>
<div>Source: </div>
<div>
<div>
<p><a href="http://www.nationmultimedia.com/business/Islamic-Banks-president-resigns-30209222.html" title="http://www.nationmultimedia.com/business/Islamic-Banks-president-resigns-30209222.html">http://www.nationmultimedia.com/business/Islamic-Banks-president-resigns…</a></p>
</div>
</div>
</div>
<div>
<a href="http://www.facebook.com/plugins/like.php?href=http%3A%2F%2Fwww.islamicfinance.de%2F%3Fq%3Dnode%2F5338&layout=button_count&show_faces=false&action=like&colorscheme=light&width=100&height=21&font=&locale=" title="I Like it" rel="nofollow" target="_blank"><span>Facebook Like</span></a> <a href="http://www.islamicfinance.de/?q=node/5338" title="Plus it" rel="nofollow" target="_blank"><span>Google Plus One</span></a> <a href="http://twitter.com/share?url=http%3A%2F%2Fwww.islamicfinance.de%2F%3Fq%3Dnode%2F5338&count=horizontal&via=&text=Islamic%20Bank%26%23039%3Bs%20president%20resigns&counturl=http%3A%2F%2Fwww.islamicfinance.de%2F%3Fq%3Dnode%2F5338" title="Tweet This" rel="nofollow" target="_blank"><span>Tweet Widget</span></a> <a href="http://www.islamicfinance.de/?q=node/5338" title="Share on Linkedin" rel="nofollow" target="_blank"><span>Linkedin Share Button</span></a> <a href="http://www.facebook.com/sharer.php?u=http%3A%2F%2Fwww.islamicfinance.de%2F%3Fq%3Dnode%2F5338&t=Islamic+Bank%26%23039%3Bs+president+resigns" title="Share on Facebook." rel="nofollow" target="_blank"><img src="http://www.islamicfinance.de/sites/default/modules/service_links/images/facebook.png" alt="Facebook" title="" width="16" height="16"></a> <a href="http://www.google.com/bookmarks/mark?op=add&bkmk=http%3A%2F%2Fwww.islamicfinance.de%2F%3Fq%3Dnode%2F5338&title=Islamic+Bank%26%23039%3Bs+president+resigns" title="Bookmark this post on Google." rel="nofollow" target="_blank"><img src="http://www.islamicfinance.de/sites/default/modules/service_links/images/google.png" alt="Google" title="" width="16" height="16"></a> <a href="http://bookmarks.yahoo.com/myresults/bookmarklet?u=http%3A%2F%2Fwww.islamicfinance.de%2F%3Fq%3Dnode%2F5338&t=Islamic+Bank%26%23039%3Bs+president+resigns" title="Bookmark this post on Yahoo." rel="nofollow" target="_blank"><img src="http://www.islamicfinance.de/sites/default/modules/service_links/images/yahoo.png" alt="Yahoo" title="" width="16" height="16"></a> <a href="http://del.icio.us/post?url=http%3A%2F%2Fwww.islamicfinance.de%2F%3Fq%3Dnode%2F5338&title=Islamic+Bank%26%23039%3Bs+president+resigns" title="Bookmark this post on del.icio.us." rel="nofollow" target="_blank"><img src="http://www.islamicfinance.de/sites/default/modules/service_links/images/delicious.png" alt="del.icio.us" title="" width="16" height="16"></a> <a href="http://www.linkedin.com/shareArticle?mini=true&url=http%3A%2F%2Fwww.islamicfinance.de%2F%3Fq%3Dnode%2F5338&title=Islamic+Bank%26%23039%3Bs+president+resigns&summary=Thanin+Angsuwarangsi+has+tendered+his+resignation+as+the+president+of+Islamic+Bank+of+Thailand%2C+only+after+six+months+in+office.+The+bank%E2%80%99s+board+of+directors+announced+that+his+resignation+has+been+approved.+Thanin%E2%80%99s+decision+followed+employees%E2%80%99+pressure.+Over+1%2C400+employees+signed+the+petition+to+the+board%2C+saying+that+a+number+of+the+president%E2%80%99s+decisions+caused+damage+to+the+bank.+Among+the+allegations%2C+Thanin+was+alleged+of+ordering+bank+executives+to+cancel+a+lending+and+loan+disbursement+procedure%2C+which+affected+borrowers+financially+and+resulted+in+higher+non-performing+loans.+The+employees+pointed+out+that+the+bank%E2%80%99s+NPLs+rose+from+Bt24+billion+in+November+2012+to+over+Bt38+billion+in+April+2013.%0A&source=IslamicFinance.de" title="Publish this post to LinkedIn" rel="nofollow" target="_blank"><img src="http://www.islamicfinance.de/sites/default/modules/service_links/images/linkedin.png" alt="LinkedIn" title="" width="16" height="16"></a> <a href="http://digg.com/submit?phase=2&url=http%3A%2F%2Fwww.islamicfinance.de%2F%3Fq%3Dnode%2F5338&title=Islamic+Bank%26%23039%3Bs+president+resigns" title="Digg this post on digg.com" rel="nofollow" target="_blank"><img src="http://www.islamicfinance.de/sites/default/modules/service_links/images/digg.png" alt="Digg" title="" width="16" height="16"></a>
</div>
State-owned Islamic Bank of Thailand plans to increase its capital by 7.11 billion baht (US$234.9mil) and issue a 5 billion baht sukuk, the country's first-ever Islamic bond. The bank plans to issue the 5billion-baht subordinated sukuk to increase its …
State-owned Islamic Bank of Thailand plans to increase its capital by 7.11 billion baht (US$234.9mil) and issue a 5 billion baht sukuk, the country's first-ever Islamic bond. The bank plans to issue the 5billion-baht subordinated sukuk to increase its …
The Finance Ministry has approved a 6-billion-baht fund for recapitalization of the Islamic Bank of Thailand, of which the ministry is the major shareholder. The project aims at reviving the bank after it has been plagued by the problem of non-performi…
The company owning the “Chaichana Halal” beef-noodle franchise has filed a lawsuit against Islamic Bank of Thailand manager Thanin Angsuwarangsi at Bangkok’s Ratchadapisek Criminal Court yesterday. This was after the manager allegedly failed to approve…
The Government Savings Bank (GSB) will continue to focus on supporting government projects, including possible mergers with the ailing Islamic Bank of Thailand and SME Bank. The bank has targeted non-performing loans (NPLs) at 1.15% of total loans this…
Due to complete management failure, two state-controlled banks, the SME Bank and the Islamic Bank of Thailand, are now dealing with bad loans in excess of 80 billion baht. This management failure is collective, whether it be the executives and director…
The Islamic Bank of Thailand has experienced deposit runs due to worries about its financial stability. The state-controlled bank reported some 5 billion baht worth of withdrawals over the past two weeks following reports of its weakening financial sta…
MARKETWATCH Top News
English
Arabic
Chinese (Simplified)
Dutch
French
German
Italian
Portuguese
Russian
Spanish