BAAC Board Called to Emergency Meeting Following Staff Protest

On August 11, 2026, Khaosod Online reported that the Ministry of Finance has intervened in an internal dispute at the Bank for Agriculture and Agricultural Cooperatives (BAAC). Employees, organized by the state enterprise labor union, recently held a protest wearing black and green armbands to submit eight formal demands to the Minister of Finance.

Central to the protest is a call for the suspension of BAAC manager Chatchai Sirilai. The union has raised concerns regarding the bank's budget management, procurement projects, and potential conflicts of interest involving insurance business dealings. Furthermore, the union is formally requesting that the board decline to renew Mr. Sirilai’s contract for a second term.

Ekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance, confirmed that representatives received the union's petition on August 10. In response, he has ordered an emergency board meeting to be held within the current week to address these allegations. The Ministry emphasized that this process is intended to ensure fairness for all parties involved.

For residents and those interacting with the Thai banking sector, this situation highlights potential administrative instability within a major state-owned financial institution. While the Ministry has committed to a review, it remains to be confirmed how the board will rule on the specific allegations of financial mismanagement and whether the manager will face suspension during the investigation.