Thailand Eyes “Buddhist Bank” Amid Temple Financial Scandals
Bangkok, Thailand — Thailand may soon see the creation of a state-regulated “Buddhist Bank” in an ambitious move to restore public trust in the monastic community, following repeated financial scandals involving prominent monks and temple funds.
Suchart Tancharoen, newly appointed Minister attached to the Prime Minister’s Office, unveiled the proposal on his first day in office this week. Acknowledging widespread public disillusionment with the Sangha (Thailand’s monastic order), Suchart said the crisis of faith stems from a lack of transparency in how temple assets are managed.
“People are disheartened by repeated scandals involving senior monks and large donations,” Suchart said. “It’s time to clearly separate monks’ personal assets from temple assets.”
He announced plans to consult the Sangha Supreme Council and draft legislation establishing the Buddhist Bank. The envisioned institution would oversee the financial management of temple assets under strict regulatory guidelines to ensure accountability and prevent misuse.
Suchart also criticized current laws, questioning why repeated scandals have been allowed to occur, and vowed swift action with ongoing public updates.
Ongoing Scandal at Prominent Bangkok Temple
Meanwhile, the Central Investigation Bureau (CIB) is actively investigating alleged misconduct at Wat Tri Thotsathep Worawihan, a historic temple in Bangkok.
Pol Maj Gen Jaroonkiat Pankeaw, Deputy Commissioner of the CIB, confirmed Monday that a woman with links to the temple’s former abbot, Phra Thepwachirapamok—widely known as “Chao Khun Arch”—is under investigation.
Initial reports suggested over ten monks were involved in improper relationships with the woman. However, further inquiry indicates the number is lower. Authorities believe monks, local politicians, and wealthy benefactors may have been exploited by the woman.
A search of her residence turned up monk robes, bank books from multiple financial institutions, and several mobile phones. These items have been seized and are being analyzed for evidence of financial transfers and possible video recordings.
Phra Thepwachirapamok has reportedly disappeared following his defrocking. Police urged him to surrender and cooperate with the investigation.
Additionally, authorities are reviewing seven active bank accounts tied to the temple. Preliminary findings align with financial disclosures provided earlier by temple staff.
So far, the woman remains a cooperative witness and has not been charged, although investigators suspect monks from other temples could also be implicated.
Suchart’s push for reform, combined with unfolding investigations, reflects growing official efforts to protect the integrity of Thailand’s religious institutions.
