1 week Ago
The selection committee for a new board chairman of the Bank of Thailand must decide whether to proceed with the original list of candidates or ask the Finance Ministry to submit a new list. According to a ministry source who requested anonymity, the legal process for selecting a new chair authorises the ministry to submit a candidate list to the committee equal to the number of vacancies, with the central bank submitting a candidate list of double the number of vacancies. Once the selection committee decides on candidates for both board members and the chair, it proposes the list to the ministry.
The ministry recently submitted the matter to the Council of State for interpretation on whether Kittiratt Na-Ranong, a candidate for board chairman, meets the qualifications required by the Bank of Thailand law, particularly the requirement that individuals must have been out of political office for at least one year. The Council of State found that Mr Kittiratt's qualifications may be in conflict with this law. The source said the ministry must send the Council of State's opinion to the selection committee for consideration on how to proceed.
The committee can confirm the original list of candidates or propose the ministry submit a new list. The source speculated that the council interpreted Mr Kittiratt's previous positions as advisor to the prime minister and chairman of a committee to tackle public debt as political positions. The council said determining whether a position is political should consider both the assigned roles and responsibilities as well as the individual's behaviour to command civil officials.
The selection process for a new central bank board chairman has been marked by delays and controversy. Scheduled meetings were postponed amid rising concerns over potential political interference after reports suggested the government intended to propose its own candidate to succeed Porametee Vimolsiri, whose term ends in October. Mr Kittiratt, a former commerce minister, was widely regarded as a leading contender for the position.
He served as deputy leader and chief economic strategist for the Pheu Thai Party, and has been critical of the central bank's interest rate policy and its regulatory independence. Mr Kittiratt was previously an advisor to former premier Srettha Thavisin..
