Accusation Concerning Non-Compliance with Market Conduct Requirements
On 5 August 2025, the Bank of Thailand (BOT) lodged an accusation against Muangthai Capital Public Company Limited (the Company), alleging that the Company had breached or failed to comply with requirements prescribed by the BOT, as follows:
The Company entered into agreements to modify repayment terms for Personal Loans Under Supervision by closing the original agreements, adding accrued interest and fees under those agreements to the principal under new agreements, and then charging interest on the combined accrued interest and/or fees.
According to the BOT's accusation, this conduct breached or failed to comply with the Ministry of Finance Notification Re: Business that Requires a Permit According to Section 5 of the Declaration of the Revolutionary Council No. 58 (Personal Loan Under Supervision), dated 30 July 2020; Bank of Thailand Notification No. FPG. 12/2563 Re: Regulations, Procedures and Conditions for Undertaking Personal Loan Business Under Supervision, dated 31 July 2020, as amended by Bank of Thailand Notification No. FPG. 13/2566 on the same subject (No. 2), dated 20 December 2023; and Bank of Thailand Notification No. SG2. 4/2563 Re: Regulations on Market Conduct, dated 13 August 2020.
The Company entered into agreements to modify repayment terms for Nano Finance Under Supervision by closing the original agreements, adding accrued interest and fees under those agreements to the principal under new agreements, and then charging interest on the combined accrued interest and/or fees.
According to the BOT's accusation, this conduct breached or failed to comply with the Ministry of Finance Notification Re: Business that Requires a Permit According to Section 5 of the Declaration of the Revolutionary Council No. 58 (Nano Finance Under Supervision), dated 30 July 2020; Bank of Thailand Notification No. FPG. 13/2563 Re: Regulations, Procedures and Conditions for Undertaking Nano Finance Business Under Supervision, dated 31 July 2020, as amended by Bank of Thailand Notification No. FPG. 14/2566 on the same subject (No. 2), dated 20 December 2023; and Bank of Thailand Notification No. SG2. 4/2563 Re: Regulations on Market Conduct, dated 13 August 2020.
According to the BOT's accusation, the conduct described in items 1 and 2 constitutes offences under Clause 7 and is subject to the penalties prescribed by Clause 17 of the Declaration of the Revolutionary Council No. 58.
The Company has ceased entering into new agreements of the type described above and has provided remedies to affected borrowers.
Status of proceedings
On 25 March 2026, the public prosecutor filed charges against Muangthai Capital Public Company Limited, Daonapa Patcharachai and Suksit Patcharachai—three defendants in total—with the Taling Chan Criminal Court. The case is currently under consideration by the Court.
Following this matter, the Company has placed greater emphasis on compliance with applicable laws and relevant notifications issued by the Ministry of Finance and the Bank of Thailand. It has strengthened its internal oversight and focused on building understanding of the fair treatment of consumers, borrowers' legal rights, transparent and ethical communications with customers, and the use of clear, non-misleading language.
These measures are intended to foster a corporate culture that emphasises social responsibility and transparency in business operations.
Muangthai Capital Public Company Limited affirms its commitment to conducting business transparently and fairly, in strict compliance with the law and relevant notifications issued by the Ministry of Finance and the Bank of Thailand, and to providing services that prioritise customers' best interests.
