Unofficial Translation 10 February B.E.2543The Manager All Commercial Banks No. FPG. (01) C. 18/2543 Re: Notification of the Bank of Thailand Re: The usage of the Internet network for undertaking of commercialbanking business Herewith attached is the notification of the Bank of Thailand regarding the usage of the Internet network for undertaking of commercial banking business issued as of 30 December B.E. 2542 which was published in the Government Gazette, General issue, Volume 117, Special Part 11 Ngor, dated 4 February B.E. 2543. The essence of this notification is that any usage of the Internet network for undertaking of commercial banking business, at the stage of entering into any agreements or juristic acts, shall obtain prior permission from the Bank of Thailand. For conformity, commercial banks shall submit the application for permission in the form attached herewith. The Bank of Thailand will consider a permission from all the details notified in the application form as stipulated in the notification of the Bank of Thailand. Please be informed and comply with the notification. Regards, (Mrs. Salinee Wangtan) Acting Senior Director Financial Institutions Policy Department Financial Institutions Policy Group for GovernorEnc: The notification of the Bank of Thailand regarding the usage of the Internet network for undertaking of commercial banking business.Financial Institution Policy Department, Tel: 283-6418, 283-5079Remarks: [ ] The Bank of Thailand will arrange a meeting to clarify on……at……….. [ X] No meeting for clarification will be ranged. Notification of the Bank of Thailand Re: The usage of the Internet network for undertaking of commercial banking business By virtue of the provision of Section 9 bis of the Commercial Banking Act B.E. 2505 and its amendments, the Bank of Thailand hereby issues regulations for permission commercial banks to use the Internet network for undertaking of commercial banking business as follows:Article 1: Commercial banks may use the Internet network to give information in the same manner as advertising or to disseminate business services being offered and related matters, such as loan application procedure and form, necessary accompanying documents, interest rate, etc., either generally or particularly to a specific customer, without obtaining permission from the Bank of Thailand.Article 2: At the stage of entering into any agreements or any juristic acts, including transferring of funds or receiving the funds transferred or any other transactions incidental to such agreements or juristic acts, by using the Internet network for undertaking of commercial banking business, it is required to obtain prior permission from the Bank of Thailand. In applying for permission, commercial banks shall submit the following information: (1) Types and scope of services/transactions to be offered. (2) A plan that outlines measures to support business operation over the Internet network. At the minimum, the plan shall include security measures for the system and data, risk assessment, contingency plan in time of emergency, system technology development, staff training development, internal control, and measures against possible legal problems taking into consideration for the rights and the benefits of customers. Commercial banks shall readily provide further explanation or take further action if so requested by the Bank of Thailand. (3) Commercial banks shall render to their customers documents/evidence of the Internet transactions for legal purposes and retain copies for verification by the Bank of Thailand. Article 3: In applying for permission, commercial banks shall submit the application in the form specified. Unless the Bank of Thailand objects or demands further information in writing, the permission shall be deemed Article 4: This notification shall come into force after the date of its publication in the Government Gazette. Given on 30th December B.E. 2542 M. R. Chatu Mongol Sonakul Governor Bank of Thailand Application form of the usage of the Internet network for undertaking of commercial banking business At…………… Date:…………………… Dear Governor of the Bank of Thailand We,……………………………would like to ask permission for the usage of the Internet network for undertaking of the business. Included here to are the details of the types and scope of our services/transactions: (1)………………………………………. (2)………………………………………. (3)………………………………………. (4)………………………………………. (5)………………………………………. Should further information be required by the Bank of Thailand, we willingly agree to clarify and/or send any documentary evidence as requested. In addition, we agree to strictly follow any terms of condition issued by the Bank of Thailand, whether it is issued prior to or after the permission has been granted, which urge or prohibit us from conducting some actions. Reported for your consideration. Sincerely Yours, (……………………) Authorized Signature of Financial Institution Relevant documentary evidence for the application of the usage of the Internet network for undertaking of commercial banking businessDocuments which have to be submitted in conjunction with the application form are as follows: 1.Types and scope of services/transactions executing through the Internet network, which include the details such as: procedure, duration, fee, and condition terms. 2.A plan that outlines measures to support business operation over the Internet network. At the minimum, the plan shall include the following information: 2.1 Security measures for the system and data (please indicate technology types) 2.2 Risk assessment 2.3 Contingency plan in time of emergency 2.4 System technology and security development 2.5 Staff training development 2.6 Internal control 2.7 Measures against possible legal problems which take into consideration for the rights and benefits of customers 3.Documentary evidence for transactions executed through the Internet networkFurther information can be obtained from Financial Institutions Policy Department Tel: 283-6418, 283-5079Fax: 283-5983E-mail: [email protected]