MTC confirms that the interest rate charges align with the supervision of the Bank of Thailand

Muangthai Capital Public Company Limited (MTC) has issued a statement regarding the Department of Special Investigation (DSI) to request the establishment of a company by MTC to inspect three operational branches of the company on March 20, 2020.

MTC clarified that the inspection on that day involved information regarding the collection of interest rates criteria and processes for the collateral seizure process, including the auction process related to complaints from a specific group of customers who had previously complained to the DSI.

As such, the company explained that it conducted its business by considering interest rates under the supervision of the Bank of Thailand with a personal loan license for vehicle title loans, which has a maximum interest rate of 28%. In this event, MTC has provided documentation and responded to inquiries from DSI officials.