Business Alliance

ICMI 355 Business Alliance Learning and Development Center at Tung-Rangsit in Nakorn Nayok Background of Bank for Agriculture and bucolic Cooperatives (BAAC) The Bank for Cooperatives was found in 1947 in order to provide the funds for the cooperatives that existed in Thailand at that time (BAAC, 2010). In the form of 1966, the assert was replaced by a new Bank which is the Bank for Agriculture and Agricultural Cooperatives (BAAC) because of five main reasons which are: 1. The Bank for Cooperatives had no cause to provide credit to the majority of farmers who were non members of cooperatives. 2. The Bank did non provide short term loans for crop production. 3. The Bank was not able to consider loan applications. 4. The Bank did not cope its loans and no government agency carried out this function at that time. 5. The operations and organization of the Bank for Cooperatives were not internationally know or recognized. As a result the Bank did not have access to foreign sources of funds and suffered from a deficit of capital.

The Bank for Agriculture and Agricultural Cooperatives (BAAC) was established in that year with the objective to providing financial facilities to support the promotion of agricultural concern for farmers, farmers groups or cooperatives in order for them to develop tillage activities as a gainful livelihood (Ibid). What the bank does include extending loans to farmers, farmers groups or cooperatives; acting as a surety for farmers, farmers groups or cooperatives for loans or farm credits from opposite sources; providing deposit services; issuing, buying or selling bills of telephone exchange or other transferable instruments; buying government bonds, etc (Ibid). In 1989, the bank has about 118 branches, but right now it has 364 branches. Also, in the year 1989, the bank has 2,815,441 families customers who were farmers , but in the year 1994, the bank have the increase number to 4,325,084... If you want to get a full essay, order it on our website: Ordercustompaper.com

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