Bangkok--22 Aug--Siam Commercial Bank
Pol. Col. Pokpibul Potranan, Director-General of the Department of Probation, Ministry of Justice, and Siam Commercial Bank President Kannikar Chalitaporn signed a memorandum of agreement on cooperation in facilitation of pledging deposit accounts as surety. Under the agreement, SCB, the first commercial bank to offer the service, will issue a certificate allowing the fixed deposit account balance to be pledged as surety, providing the public with an alternative to the need to provide cash. It will help reduce the official cash depository procedure, while owners of the account pledged as surety remain able to receive fixed deposit interest as usual.