With technological advancements, business operators are able to access more varieties of data than ever before, and are able to use that data to assess the terms on which loans are provided. This means that they can provide services to consumers more efficiently and with lower operating costs. More importantly, however, it allows them to provide financial services to a broader range of consumers who would otherwise not be able to access vital funds. To facilitate this, on September 15, 2020, the Bank of Thailand (BOT) introduced a new type of personal loan—the digital personal loan—under BOT Circular Re: Rules, Procedures and Conditions for the Undertaking of Digital Personal Loan Business. Sometimes known as “quick loans” or “easy loans” in other jurisdictions, this new type of loan instrument is intended to promote Under the circular, a digital personal loan is defined as a personal loan for which business operators utilize digital technology and alternative data (e.g., utility and mobile phone bill payment records) to assess the borrower’s ability and willingness to repay. The digital personal loans do not include loans for which car registration is used as collateral. The key requirements for undertaking a digital personal loan business are as follows: Business operators are expected to use technology and alternative data to determine the customer’s risk profile, based on their ability or willingness to repay. The alternative data that is used must be from a trusted source and use a sensible hypothesis in assessing the customer’s credit profile. Such business operators may comply with the BOT’s information-based lending guidelines. Business operators must use electronic channels for both the provision and repayment of the loans. This may include disbursing and repaying by bank transfer, direct debit, or e-money to create a digital footprint in the financial sector for the customers.

On November 2, 2020, it was widely reported by Thai media that Thailand’s Department of Business Development (DBD) has drafted ministerial regulations that would remove telecommunications, treasury center activities, and software development businesses from List 3 of the  Foreign Business Act (FBA). If enacted, these regulations would effectively mean that foreign entities (such as a foreign-majority-owned company) would no longer need to obtain permission from the DBD’s director-general and the Foreign Business Commission before engaging in these activities.

On September 15, 2020, the Bank of Thailand (BOT) introduced a new type of personal loan—the digital personal loan—under BOT Circular Re: Rules, Procedures and Conditions for the Undertaking of Digital Personal Loan Business. Key features of the new loans are as follows:

On August 14, 2020, the government of Vietnam issued Decree 91/2020/ND-CP on fighting against spam text messages, spam email, and spam calls. The new decree will take effect on October 1, 2020, replacing Decree 90/2008 on anti-spam and all of its amendments. In general, Decree 91 retains the essential rules on anti-spam regulated in Decree 90, but expands the scope of application and provides stricter measures in controlling spam.