webfact Posted August 8, 2018 Share Posted August 8, 2018 BAAC to become first bank to accept trees as loan collateral By Thai PBS 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/ -- © Copyright Thai PBS 2018-08-08 Link to comment Share on other sites More sharing options...
tracker1 Posted August 8, 2018 Share Posted August 8, 2018 Wonder how much of a loan granted for seedlings ? 1 Link to comment Share on other sites More sharing options...
taichiplanet Posted August 8, 2018 Share Posted August 8, 2018 (edited) 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 August 8, 2018 by taichiplanet 2 Link to comment Share on other sites More sharing options...
Elkski Posted August 8, 2018 Share Posted August 8, 2018 Not lots of details to read unless I missed it. So the bank ends up iwnung the trees and gets to harvest them? Link to comment Share on other sites More sharing options...
bluesofa Posted August 8, 2018 Share Posted August 8, 2018 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. 1 Link to comment Share on other sites More sharing options...
Popular Post ThaidDown Posted August 8, 2018 Popular Post Share Posted August 8, 2018 Are the loans available from all branches ? 2 3 Link to comment Share on other sites More sharing options...
Popular Post tifino Posted August 8, 2018 Popular Post Share Posted August 8, 2018 they took the leaf out of 'what' book? 1 2 Link to comment Share on other sites More sharing options...
bannork Posted August 8, 2018 Share Posted August 8, 2018 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. 1 Link to comment Share on other sites More sharing options...
Sir Dude Posted August 8, 2018 Share Posted August 8, 2018 Trouble written all over this one. Maybe the bank got the nod from the Ministry of Good Ideas on it. Link to comment Share on other sites More sharing options...
PatOngo Posted August 8, 2018 Share Posted August 8, 2018 I woke up this morning and three trees were missing from my front yard. I wonder how much they got for them? Link to comment Share on other sites More sharing options...
bluesofa Posted August 8, 2018 Share Posted August 8, 2018 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'. Link to comment Share on other sites More sharing options...
bluesofa Posted August 8, 2018 Share Posted August 8, 2018 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. Link to comment Share on other sites More sharing options...
DrTuner Posted August 8, 2018 Share Posted August 8, 2018 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.. Link to comment Share on other sites More sharing options...
AsiaHand Posted August 8, 2018 Share Posted August 8, 2018 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 ? 1 Link to comment Share on other sites More sharing options...
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