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The truth about Asian investment banking

October 1999

Thais won't practise safe banking



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The Thai slang for a condom is a Mechai, in honour of social campaigner Mechai Viravaidya, a charismatic figure who was called in by the central bank last year to rescue Thailand's largest bank, the ailing Krung Thai Bank. Critics said he had no experience of banking, only of managing not-for-profit organisations - but then with a half-year loss of Bt23 billion ($620 million) this year, Krung Thai Bank arguably falls into the latter category anyway.

Mr Condom, as he is affectionately known, is the son of a Scottish doctor and a Thai father, and a man of many talents - chairman of numerous companies, on the boards of a lengthy list of NGOs, well-respected in Bangkok high society, one-time government minister and a champion of causes from birth control to forests. As head of the...


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