Thailand’s central bank will now permit non-bank institutions to establish asset management joint ventures to help resolve bad loans, expanding a framework previously limited to banks, according to rules published in the Royal Gazette. Applicants have two years to file, with each JV-AMC allowed to operate for up to 15 years. Initially deployed during the pandemic, the scheme has been extended to support ongoing debt workouts. Krungthai Bank plans to apply next year and expect