The explosion of bad debt at the state-owned Islamic Bank of Thailand was largely caused by grossly negligent lending by former executives, according to its new president. Meanwhile, former finance minister Chalongphob Sussangkarn has suggested that the Finance Ministry overhaul the oversight of state banks to improve governance and prudent lending practices.
Non-performing loans (NPLs) at IBank currently amount to Bt39 billion, or about 30 per cent of outstanding loans, its president Thanin Angsurarangsit said………………………………………..Full Article: Source