TMBThanachart Clarifies Financial Transactions Related to Myanmar Military Government

Regarding the news about the United Nations (UN) Special Rapporteur on Thai banks' involvement in facilitating financial transactions for Myanmar military government, TMBThanachart Bank (ttb) would like to clarify our position that;

ttb always emphasizes its adherence to Thai Anti-Money Laundering Office (AMLO) and international standards set by the Financial Action Task Force (FATF). This includes rigorous checks on transactions, both domestic and international, to ensure they do not involve names listed under the FATF sanction including list from UN or the Thai AMLO sanctions.

In terms of transactions related to Myanmar as mentioned in the UN report, ttb asserts that it does not have any branches or subsidiaries in India as being referred to in the report. Moreover, as a member of the Thai Bankers' Association (TBA), ttb’s standpoint is fully aligned with TBA and other TBA members that ttb does not support any transaction that is related to military procurement of Myanmar military government and that ttb prohibits any transaction of weapons procurement that leads to violation of human rights.

Lastly, ttb would like to reassure its customers and stakeholders of the Bank’s good corporate governance and business ethics as well as the strict compliance to AMLO law and international standards.