SME Bank offering bills of exchange

       The Small and Medium Enterprise Development Bank of Thailand for the first time is offering bills of exchange to the public with the return set at a minimum of 1 per cent.
       "To raise funds from the public this year is our domestic funding source. And we want to reduce foreign borrowing," president Soros Sakornvisava said yesterday.
       The SME Bank's B/Es, which had been limited to institutional investors, would be from now on sold to individual investors.
       The three-, six- and 12-month B/Es offer a return of at least 1 per cent.
       The minimum purchase is Bt1 million.
       The B/Es can also be placed as collateral for the bank's loans, the bank said in a statement.
       B/E holders would be creditors of the bank.
       The return would reflect the nontransferrable nature of the debt instruments.
       This is an alternative investment for the public, corporations, merchants and institutional investors, he said.
       Saving with SME Bank is safe without risk and easy for money management, he said.
       Those who had retired from state agencies and individuals with savings who haven't decided to invest their money in any business could invest in the bank's B/Es.
       The new retail product is currently available at SME Bank's 95 branches nationwide.