Picture courtesy: Naew Na

 

In a recent twist impacting Thailand's central banking landscape, Mr Chow Meekhuad, a Bangkok-based lawyer, has raised concerns over the eligibility of Kittiratt Na Ranong as the new chairman of the Bank of Thailand's board.

 

Chow's assertions, aired through a Facebook post, challenge Kittiratt's qualifications, pointing out his past role as an adviser to former Prime Minister Srettha Thavisin, suggesting this compromises his candidacy.

 

Chow's argument revolves around the Bank of Thailand Act, B.E. 2551, which necessitates that individuals holding political roles wait at least a year before being considered for non-political positions, such as that of the central bank chairman.

 

Despite Kittiratt's adviser position technically not being a political office, Chow argues that responsibilities as outlined in the Prime Minister’s Office Order No. 214/2566, effectively equate to political service.

Kittiratt ceased his advisory role on 14th August 2024, coinciding with the dismissal of Prime Minister Srettha by the Constitutional Court for unrelated reasons.

 

This timeline falls short of the one-year separation required by law before assuming non-political roles, according to Chow’s interpretation.

 

The selection of Kittiratt was conducted by a seven-member committee, a process now under scrutiny due to Chow's allegations of legal non-compliance. He is urging for a lawsuit against the committee, asserting their deliberate choice of an unqualified candidate endangers the apolitical integrity mandated by governing statutes.

 

This legal contention is prompting discussions on the balance of political and institutional influence in Thailand's economic oversight and raises broader questions about procedural adherence and political neutrality within the country's financial institutions.

 

The outcome may significantly impact future appointments and procedural frameworks within Thailand's monetary circles, reported Thai Newsroom.

 

-- 2024-11-13

 

 

1 hour ago, webfact said:

The selection of Kittiratt was conducted by a seven-member committee, a process now under scrutiny due to Chow's allegations of legal non-compliance. He is urging for a lawsuit against the committee, asserting their deliberate choice of an unqualified candidate endangers the apolitical integrity mandated by governing statutes.

 

Brilliant Kh Chow. Go for them sir.

if the government cannot control the central bank put someone in charge that can be controlled, the BOT is no longer independent 

9 minutes ago, smedly said:

if the government cannot control the central bank put someone in charge that can be controlled, the BOT is no longer independent 

Exactly