Export-Import Bank of Thailand (EXIM Thailand)
is a state-owned financial institution under the Ministry of Finance’s supervision. It was established with an initial capital of 2.5 billion baht by the Export-Import Bank of Thailand Act B.E. 2536 (1993), which took effect on 7 September 1993. Following rapid business expansion, the Bank’s capital was increased with the Ministry of Finance’s additional contribution of 2.5 billion baht and 1.5 billion baht in April and July 1998, respectively. Later in December 2008, the Ministry of Finance injected another 1.3 billion baht in capital to enhance the Bank’s capability to fulfill its mission as a state-run specialized financial institution with a mandate to promote and support Thai exports, imports, and investments, both domestic and overseas. In September 2009, the Ministry of Finance increased the Bank’s capital by another 5 billion baht. The fund was earmarked for export promotion through export credit insurance under the Strong Thailand Scheme 2012. The service helps safeguard exporters against non-payment risk by overseas buyers, thereby boosting exporters’ confidence in their business expansion in the main or emerging markets, particularly in the midst of the 2009 economic turbulence when such risk heightened substantially.
Under the Export-Import Bank of Thailand Act, EXIM Thailand is empowered to engage in a broad range of business undertakings. EXIM Thailand can offer short-term as well as long-term credits, either in domestic or overseas markets, in baht or any foreign currency denominations. In mobilizing funds, the Bank can borrow from local or overseas financial institutions, as well as issue short-term or long-term financial instruments for sale to financial institutions and the general public, both domestically and internationally. Essentially, EXIM Thailand can engage in any financial activities customary to commercial bank practices, except for accepting deposit from the general public.
EXIM Thailand officially started its operation on 17 February 1994.
In November 1999, the Export-Import Bank of Thailand Act (No.2) B.E. 2542 (1999) was enforced to clarify and expand the Bank’s objective and scope of operation with regard to investment promotion and support. The amendment enabled the Bank to provide more comprehensive support to Thai investors overseas as well as local investors in business relating to export or business which earns or saves foreign exchange.