Thailand: Bank of Thailand opened consultation on draft Policy on Risk Management of the Use of Artificial Intelligence Systems including organisational requirements

On 12 June 2025, the Bank of Thailand opened a consultation on its draft Policy on Risk Management of the Use of Artificial Intelligence Systems until 30 June 2025. The policy provides financial service providers with appropriate risk management guidelines, aligning with internationally accepted principles. Its objective is to establish a framework for managing Artificial Intelligence (AI)-related risks based on usage scenarios, supplementing existing guidelines. The policy applies to Financial institutions under the Financial Institutions Business Act and Payment service providers under the Payment Systems Act. It defines the governance structure for AI risk oversight. Under the policy, the existing boards of directors of financial institutions and payment service providers are responsible for the establishment and approval of AI risk policies. They must ensure that policies align with the principles of fairness, ethics, accountability, and transparency, and oversight of defensive lines against AI risks. They are also responsible for managing company norms to favour careful and appropriate AI system usage.