Law
BAAC Board Initiates Investigation into Bank Manager Following Union Complaints
The Bank for Agriculture and Agricultural Cooperatives (BAAC) has launched a 30-day investigation into its manager following eight complaints filed by the state enterprise labor union.
On August 14, 2026, Ekniti Nitithanprapas, Deputy Prime Minister, Minister of Finance, and Chairman of the Board of the Bank for Agriculture and Agricultural Cooperatives (BAAC), announced the formation of a fact-finding committee to address eight specific complaints lodged by the BAAC state enterprise labor union against the bank's manager. According to Khaosod Online, the board has mandated a 30-day timeframe for the investigation to ensure transparency and comprehensive data collection.
To maintain impartiality, an independent director representing the Bank of Thailand has been appointed to chair the committee. Furthermore, BAAC manager Chatchai Sirilai did not attend the special board meeting to ensure fairness throughout the process. The Ministry of Agriculture and Cooperatives Permanent Secretary has been tasked with communicating these developments to bank staff, emphasizing that the institution's primary mission remains the support of farmers and clients.
For residents and those engaged with Thailand’s agricultural financial sector, this investigation is significant as it concerns the governance of a major state-owned bank responsible for rural development. While the board has acted to address internal grievances, the specific details of the eight complaints remain undisclosed. The public and stakeholders must wait for the committee’s findings, which may be reported earlier than the 30-day deadline if individual issues are resolved sooner.