Doubts emerge over frontrunner candidate for BOT board chairman
Kittiratt Na-Ranong, the frontrunner candidate for the position of chairman of the Bank of Thailand board, may be deemed unsuitable because of his political connections and ongoing legal issues, prompting the selection committee to take more time to evaluate suitable nominees, according to sources within the BOT.
Initially, insider reports indicated that Kittiratt was the frontrunner for the role. However, his candidacy has faced escalating scrutiny, including his political affiliations and legal challenges.
Concerns have been raised regarding potential conflicts of interest arising from Kittiratt's involvement as a member and executive committee of a political party, as well as his role as an adviser to former prime minister Srettha Thavisin.
Adding to the scrutiny, the National Anti-Corruption Commission (NACC) recently appealed to the Attorney General's Office concerning a case linked to Kittiratt from his time as minister of commerce. The allegations, known as the Bulog rice affair, centre on his failure to initiate an investigation into the alleged improper selection of Siam Indica Co by the Public Warehouse Organisation (PWO) to supply rice to Indonesia's food procurement agency, Bulog.
Amid growing doubts over Kittiratt's suitability, Kulit Sombatsiri has emerged as a possible compromise candidate. With his extensive background as a civil servant in the Ministry of Finance and subsequent role as permanent secretary of the Ministry of Energy, Kulit is viewed as possessing the necessary financial expertise and political neutrality.
Sources indicate that Kulit could potentially garner support from both the government and the BOT, thereby bridging any divide between the two entities.
The committee responsible for selecting the next chairman of the BOT has postponed its decision indefinitely, citing concerns over potential political interference. This development comes as unease is mounting among prominent figures, including former BOT governor Tarisa Watanagase.
The search for a new chairman follows the conclusion of Pramethi Wimonsiri's term on September 16, with the Ministry of Finance and the BOT having nominated several candidates. These include Kittiratt Na-Ranong, Kulit Sombatsiri, and Thammasat University Professor Dr Suraphol Nitikraipot.
The extended selection process underscores concerns about maintaining the BOT's independence from political influence. The committee's focus on adhering to strict legal qualifications, particularly those pertaining to political involvement and legal standing, highlights the emphasis placed on preserving the central bank's autonomy.
As the January 16, 2025, deadline approaches, all eyes will be on the nomination committee as it navigates these complex political and legal considerations in the selection of the next BOT chairman.
