Debt Clinic, which will be managed by the Financial Institutions Development Fund's wholly-owned subsidiary Sukhumvit Asset Management (SAM), will be rolled out as a pilot project in June to cultivate financial discipline among borrowers. The 16 banks are Bangkok Bank, Krungthai Bank, Siam Commercial Bank, Kasikornbank, Bank of Ayudhya, Kiatnakin Bank, Citibank, CIMB Thai Bank, TMB Bank, Tisco Bank, Thai Credit Retail Bank, Thanachart Bank, UOB Thai, Land and Houses Bank, Bank of China and Industrial and Commercial Bank of China (Thai). The Debt Clinic targets regular income earners who failed to repay credit and cash cards, and personal loans with at least two banks for more than three months before May 1. SAM will manage the bad loans, which will turn into performing loans once the first repayment is made. The Debt Clinic will open for registration on June 1.

Source: Bangkok Post May 17, 2017 23:48 UTC