Bangkok: The State Audit Office (SAO) has launched an investigation into the Export-Import Bank of Thailand, following allegations of non-compliance with the Fiscal Discipline Act that have led to damages exceeding 2 million baht.

According to Thai News Agency, the SAO’s investigation targeted the disbursement of monthly assistance payments to non-employees for the fiscal year 2022. The Office of the Auditor General identified damages amounting to 2.8 million baht, prompting the bank’s board of directors to initiate disciplinary proceedings against those responsible. The board has been instructed to further investigate the violations to recover the financial losses.

The investigation revealed that the payments were made based on internal records approved by the bank’s former managing director, rather than following the Export-Import Bank of Thailand Act of 1993. These internal records were improperly used as a reference for disbursement, lacking the legal standing as regulations or guidelines for such payme
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The SAO concluded that the bank’s payment of monthly assistance to non-employees did not align with the bank’s regulations, as there was no legal or regulatory basis for these disbursements. Consequently, these payments were deemed inconsistent with the State Fiscal Discipline Act, necessitating corrective measures.