Next,
both parties began preparing the materials.
Within just three days,
all the documents had been submitted to the Thai Government.
Unlike Western developed countries such as the United States, developing countries have very strict requirements for the establishment of banks, mainly because the finance industry in Western countries is more prosperous, while developing countries have just solved the problem of food and clothing and are aiming for moderate prosperity.
They don't dare to engage in too many financial products and tools.
There is no demand.
Hence, the market is naturally bleak.
Moreover, due to the significant currency risk they face, it's even less likely that they would allow someone to open a bank casually, especially Southeast Asian countries that have suffered heavy losses from several financial crises and have a rather negative attitude towards the banking industry.
This matter must first go through a discussion and approval by the Thai Government.
