Bangkok, 9 January 2023 – The Securities and Exchange Commission (SEC) has signed a Memorandum of Understanding concerning Mutual Cooperation for the Teachers and Educational Personnel Debt Management Project with 12 organizations. The main objective is to provide a pool of knowledge and advice on financial planning and disciplines for teachers and educational personnel to get better equipped to manage their debts and invest in products suitable for their needs without falling victim to investment scams.
The MOU
signatories are (1) the SEC, (2) the Ministry of Education, (3) the Ministry of
Finance, (4) the Ministry of Justice, (5) the Cooperative Promotion Department,
(6) the Bank of Thailand, (7) the Government Pension Fund, (8) National Credit
Bureau Co., Ltd., (9) the Thai Bankers Association, (10) the Government Financial
Institutions Association, (11) the Government Savings Bank, (12) the Government
Housing Bank and (13) Krungthai Bank Plc. The MOU signing ceremony took place
at the Teachers’ Council of Thailand, the Ministry of Education, on 6 January
2023.
Through
the integrated cooperation, the MOU aims to assist teachers and educational
personnel in solving their debt problems in a concrete way. This includes increasing
liquidity for debt payments, promoting good quality living with dignity, recommending
thorough and systematic solutions to tackle debt problems, and developing a
financial and debt management system in accordance with good governance
principles. This is to ensure fairness for debtors while promoting, supporting
and developing teachers’ and educational personnel’s financial literary and disciplines.
SEC
Secretary-General Ruenvadee Suwanmongkol said: “The SEC is ready to cooperate
and render support to the Teachers and Educational Personnel Debt Management
Project under this MOU by contributing information, teamwork and speakers to
provide knowledge, advice and recommendations on financial planning and
disciplines. We hope to help educational personnel better manage their debts
and increase their opportunities for investing in suitable products without
falling victim to investment frauds and scams. We are very pleased to be a part
of this MOU and look forward to joining the Ministry of Education in organizing
activities to support this project.
“It is
part of the SEC Investor Education Strategy to build the public’s immunity against
investment scams and equip them with knowledge and skills on financial and
investment management to help them build financial resilience amid changing
situations in all areas in order for them to obtain sufficient savings for
their retirement. The SEC is ready to work with the Ministry of Education in
helping teachers and educational personnel solve their debt problems efficiently,”
added Ms. Ruenvadee.
Under
the MOU, the signatories will contribute to the cooperation according to their
roles and responsibilities specified by their different missions. The MOU’s
term is one year, starting from the signing date.