Thais use social media to call for a boycott of Siam Commercial Bank

Thais, on Sunday, were using social media platforms to call for a boycott of Siam Commerical Bank for its perceived connection to the country’s conservative institutions.

Tens of thousands of pro-democracy demonstrators braved rain and heat to rally in Bangkok this weekend with speeches and events that broached subjects previously considered taboo for public discussion.

Among the subjects discussed by the protesters was the role that the Crown Property Bureau played in governance and ultimately who the CPB belongs to.

The call to boycott SCB by the protesters came up during speeches about Thailand’s lack of sovereign wealth fund and the massive amount of money the CPB has.

As one of the main shareholders of the bank, SCB became a target for the protesters with calls to make bank-runs and close accounts.

The hashtag #แบนscb (Ban SCB) gained more than 347,000 tweets by Sunday evening. Many protesters showed their accounts emptied of cash or made plans to do so.

Calls to SCB’s investor relations department were not returned.

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