CSR Project: KYI-KYE (Know Your Income-Know Your Expense)
Referral to the study paper conducted by the Bank of Thailand in collaboration with The Nielsen Company (Thailand) Co., Ltd. on households across Thailand under the project BOT-Nielsen Household Financial Survey, it is found that the household debt problems in the country substantially caused by lack of financial disciplines. Although the Bank of Thailand has issued policies and measures, such as financial literacy promoting, credit card loans and personal loans under supervision monitoring, debt clinic project and zero informal debt project, to solve the household debt problems, it is not achievable without financial disciplines.
The Bank of Thailand, therefore, introduced practical guidelines to strengthen sustainable financial discipline as follows;
- Understand self-spending behavior;
- Set targets to reduce spending, step-by-step;
- Save money regularly;
- Saving before borrowing to reduce the debt burden in the future;
- Maintain debt payment-to-income ratio to be lower than 40%;
- Do not be a victim or marketing;
- Live healthy to reduce chances for illness;
- Purchase health insurance to reduce the cost of medical treatment.
Muangthai Capital Public Company Limited, as a retail loan provider (Microfinance), has been conducting the business under the principles of good governance, with an objective to reduce the country's financial inequality and enhance the financial inclusion, enable Thai people to access funding with fair and transparent cost under supervision of the Bank of Thailand. The company, would like to cooperate with the Bank of Thailand, hence, we initiate a CSR project "KYI-KYE (Know-Your-Income, Know-Your-Expense)" to help strengthening financial discipline of general public and, especially company's customers. Since, we are a leader in retail loan service provider (Microfinance), with highest number of customers and branches, as well as, the largest market share in the country, therefore, we have the ability to reach millions of people and customers through company's various communication channels.
The company has created a CSR project "KYI-KYE (Know-Your-Income, Know-Your-Expense)", which is an accounting program for users to record income and spending in accordance to the Bank of Thailand's practical guidelines which its objective is to help users to understand their own spending behavior, able to monitor their expenses, incomes and savings.
The company allows the public and customers of the company to download this accounting program "KYI-KYE (Know-Your-Income, Know-Your-Expense)" for their utilization without any fees or conditions.Download KYI-KYE