Thai banks deny funding Myanmar junta’s weapon purchases

Foreign Minister Maris Sangiampongsa issued a strong rebuttal to accusations from Move Forward Party (MFP)-list MP Rangsiman Rome, categorically denying that Thai banks or the government are involved in supporting weapons procurement for the Myanmar junta.

These remarks follow a report from the Office of the United Nations High Commissioner for Human Rights in late June, which claimed Thai banks were providing financial services to the Myanmar military for weapon purchases.

The House panel responsible for state security, border affairs, national strategy, and reform began an investigation on July 11, promising to crack down on mule accounts in Thailand allegedly aiding the Myanmar military. Chaired by Rangsiman, the panel asserted that over 250 companies, including some from Thailand, had been involved in procuring military weapons and fostering violence in Myanmar over the past year. Rangsiman criticised Thailand’s inaction in addressing these allegations.

In response, Minister Maris stated that Thailand does not support activities that result in fatalities or violate the UN charter and human rights. He emphasised that the ministry was collaborating with relevant agencies to follow up on the report by Tom Andrews, the UN Special Rapporteur on human rights in Myanmar.

“Thai authorities are strictly investigating this issue and are not staying silent.”

The Bank of Thailand (BoT) and the Anti-Money Laundering Office (AMLO) have also assured that they will not support any weapons procurement that violates human rights.

Maris revealed that Thai authorities were prepared to conduct further investigations and possessed clear evidence of Thai companies’ transactions. Commercial banks have been tasked with scrutinising these transactions to meet international standards. He announced that the ministry would summon commercial banks for further discussions on July 24.

Responding to Andrews’ call for suspending transactions with Myanmar, Maris argued that such sanctions would harm the bilateral relationship.

“Thailand is mindful of humanitarian principles and the impact of sanctions on the Myanmar people facing hardship due to the current unrest.”

The foreign minister highlighted the importance of maintaining a balanced relationship with Myanmar for mutual benefit, given their shared border and trade interests, reported The Nation.