Thailand plans ‘Buddhist bank’ as temple scandals explode
Suchart plans talks, legislation to launch Buddhist bank regulating temple assets
Thailand’s temples are facing their biggest credibility crisis in decades, with lurid scandals and financial misconduct battering public faith. Now, a senior minister has unveiled a bold plan to clean up the mess — by setting up a Buddhist bank to keep temples’ money in check.
Speaking on his first day in office yesterday, July 7, Suchart Tancharoen, minister attached to the Prime Minister’s Office, said it was time to draw a clear line between monks’ personal funds and temple property.
“There is growing disillusionment because of repeated scandals involving senior monks and massive donations,” Suchart said. “We must restore trust by introducing transparency and proper oversight.”
Under his proposal, a dedicated agency would monitor temple finances to prevent embezzlement and fraud. Suchart said he would consult the Sangha Supreme Council and table legislation to establish the Buddhist bank, which would enforce strict regulations on religious assets.
“I don’t understand why the current laws have failed to stop these violations,” he said. “I will act quickly and keep the public informed every step of the way.”
His comments came as yet another scandal erupted, this time at Wat Tri Thotsathep Worawihan in Bangkok.
Police are investigating allegations of financial and ethical misconduct involving the temple’s former abbot, Phra Thepwachirapamok, better known as Chao Khun Arch.
Police Major General Jaroonkiat Pankeaw, Deputy Commissioner of the Central Investigation Bureau, confirmed on Monday that a woman linked to the disgraced abbot is under scrutiny.
While early reports claimed she was romantically involved with over ten monks, further investigations suggest the number is lower. Police believe the woman, along with local politicians and wealthy donors, may have exploited — or been exploited by — the temple network.
During a raid on her home, officers seized monk robes, multiple bank books, and mobile phones. These are now being examined for evidence of suspicious transfers and potentially incriminating video material.
“Chao Khun Arch has not been located since his defrocking,” Jaroonkiat said. “We believe he is in hiding and we call on him to cooperate.”
Investigators are also tracking seven active bank accounts linked to the temple. Preliminary findings align with records previously shared by temple staff, Bangkok Post reported.
The woman, who remains a key witness, has not yet been charged. Officials suspect that monks from other temples could be implicated as the inquiry widens.
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