Thais won't practise safe banking
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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 country's Population & Community Development Agency he is credited with almost single-handedly halving the birth rate in Thailand.

But the bubble burst when the colourful social activist, also known as Mr Rainbow, took on a chairmanship too far as head of majority state-owned Krung Thai Bank a year ago.


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