Skip to content
View in the app

A better way to browse. Learn more.

Thailand News and Discussion Forum | ASEANNOW

A full-screen app on your home screen with push notifications, badges and more.

To install this app on iOS and iPadOS
  1. Tap the Share icon in Safari
  2. Scroll the menu and tap Add to Home Screen.
  3. Tap Add in the top-right corner.
To install this app on Android
  1. Tap the 3-dot menu (⋮) in the top-right corner of the browser.
  2. Tap Add to Home screen or Install app.
  3. Confirm by tapping Install.

BAAC to become first bank to accept trees as loan collateral

Featured Replies

BAAC to become first bank to accept trees as loan collateral

By Thai PBS

 

AFP.png

 

The Bank of Agriculture and Agricultural Cooperatives (BAAC) will be the first financial institution in Thailand to accept any of 58 types of trees classified as “prohibited trees” as collateral for taking loans from the bank, said Mr Natthaporn Jatusripitak, an advisor to the minister of Prime Minister’s Office.

 

The unprecedented move by the BAAC to accept trees as collateral from borrowers, especially low-income earners who don’t have any other property to be posted as collateral follows the Cabinet’s approval in principle of a forest bill proposed by the Ministry of Natural Resources and Environment to make it possible for private individuals or private sector to plant 58 types of “prohibited” trees to grow them on their property and the trees will not be classified as “prohibited”.

 

The 58 types of trees include teak, Chingchan, Payoong, Makamong, Pradoo Pa, Sathorn, Daeng, Peep, Kaena, Sattaban, Chamchuree, Makham (tamarind) and etc.

 

Full story: http://englishnews.thaipbs.or.th/baac-to-become-first-bank-to-accept-trees-as-loan-collateral/

 
thaipbs_logo.jpg
-- © Copyright Thai PBS 2018-08-08

Wonder how much of a loan granted for seedlings ?

6 minutes ago, tracker1 said:

Wonder how much of a loan granted for seedlings ?

brings a whole new meaning to 'seed money'!

 

Though not really related, for some reason i immediately thought of a scene out of one the Hitchhiker's Guide to the Galaxy books; when a space ship crashed on primitive Earth and they made leaves the currency and started to burn forests down to make the leaves they had more valuable. I think i have been living in Thailand too long! ?

Edited by taichiplanet

Not lots of details to read unless I missed it.    So the bank ends up iwnung the trees and gets to harvest them?

3 hours ago, tracker1 said:

Wonder how much of a loan granted for seedlings ?

The bank 'wood' only accept them if they are grown from magic bean seeds.

This obviously (as per the long-standing Thai law) prevents foreign (fi-fi-fo-fum) giants from having any control of the magic-bean-growing land.

 

  • Popular Post

Are the loans available from all branches ?

  • Popular Post

 

they took the leaf out of 'what' book? 

I love this news. About 10 years ago I started planting Payoong trees, Siamese Rosewood on my wife's land. I saw the high prices Payoong stolen from national Parks was fetching.

The wife shook her head, it's illegal to sell them, they're a protected species, she said, and she was right.

Now they're not, only another 20 years to wait, with the aid of fertilizer. They grow so easily too, hardy to drought too.

Trouble written all over this one. Maybe the bank got the nod from the Ministry of Good Ideas on it. 

I woke up this morning and three trees were missing from my front yard. I wonder how much they got for them?

9 minutes ago, Sir Dude said:

Trouble written all over this one. Maybe the bank got the nod from the Ministry of Good Ideas on it. 

A genuine website, I thought you were being facetious!

Hmm, the worrying thing on there is the video that starts by mentioning 'total retail loss'.

 

6 minutes ago, PatOngo said:

I woke up this morning and three trees were missing from my front yard. I wonder how much they got for them?

You should put up a 'lost' poster on some trees dogs in the area.

 

2 hours ago, bannork said:

I love this news. About 10 years ago I started planting Payoong trees, Siamese Rosewood on my wife's land. I saw the high prices Payoong stolen from national Parks was fetching.

The wife shook her head, it's illegal to sell them, they're a protected species, she said, and she was right.

Now they're not, only another 20 years to wait, with the aid of fertilizer. They grow so easily too, hardy to drought too.

Ah so "protected" meant you couldn't fell them? Looks fairly strange to see Mai Sak and Mai Daeng on that list as every door/furniture/floor salesman has goods made out of them for sale..

7 hours ago, tracker1 said:

Wonder how much of a loan granted for seedlings ?

What is the currency difference between a coconut palm and aTeak tree? What height ?

Create an account or sign in to comment

Recently Browsing 0

  • No registered users viewing this page.

Account

Navigation

Search

Search

Configure browser push notifications

Chrome (Android)
  1. Tap the lock icon next to the address bar.
  2. Tap Permissions → Notifications.
  3. Adjust your preference.
Chrome (Desktop)
  1. Click the padlock icon in the address bar.
  2. Select Site settings.
  3. Find Notifications and adjust your preference.