Auto lease adjustment causes a kerfuffle

Auto leasing business operators have shown varying levels of readiness to comply with the Bank of Thailand's regulations following a recent amendment to a royal decree on auto hire-purchase businesses.

- SOMRUEDI BANCHONGDUANG

According to Sarun Thongtam-machart, chairman of the Thai Hire-Purchase Association (THPA), while THPA members have prepared to comply with the regulator's rules under the amended royal decree, their levels of preparedness differ under the new regulatory framework introduced by the central bank.

The amended royal decree, published in the Royal Gazette on June 5, stipulates that hire-purchase and leasing businesses for cars and motorcycles will come under the central bank's supervision on Dec 2, 2025.