Economy and commerce

Banking and financial services

Banks, financial institutes ordered to defer principal and interest payments

The Bank of the Lao PDR has issued a decision ordering commercial banks and micro-financial institutes to postpone for three months – from May – deadlines for principal and interest payments for those who have borrowed loans for living expenses.  The decision, dated May 13, 2021, ...

KPL

Lao banks partner in integrated payment system

VIENTIANE (Vientiane Times/ANN) – The Bank of the Lao PDR (BOL), the country’s central bank, officially launched the new joint venture Lao National Payment Network Co Ltd (LAPNet) in collaboration with seven major banks.The company aims to create a more efficient system of payments and ...

News Desk

BOL, BOK end banking cooperation programme in Laos

VIENTIANE (Vientiane Times/ANN) – The Bank of the Lao PDR (BOL) and the Bank of Korea (BOK) have agreed to share the outcomes of their seven month-programme – 2019 Bank of Korea-Knowledge Partnership Programme (BOK-KPP) – with interested parties.Following completion of the programme, which began ...

News Desk

Laos Engages International Rating Agencies for International Dollar Bond Debut

The Lao Government has engaged Standard Chartered, JP Morgan, and Credit Suisse for its planned international US dollar bond debut.In December of 2015, Laos sold US$182m worth of dollar bonds in two tranches to institutional investors in Thailand and regularly issues sovereign bonds denominated in ...

Francis Savankham

Laos' central bank to focus on currency management amid challenges

VIENTIANE (Vientiane Times) – Laos’ central bank will tackle challenges to ensure the stability of the kip and prevent it weakening further against the Thai baht, and ensure the rate of inflation stays below 5 per cent.Responding to questions about currency management from National Assembly ...

News Desk

Krungsri Launches Real-time Money Transfer Service

(KPL) Krungsri Bank, a Thai commercial bank, has launched Krungsri Blockchain Interledger to ensure an easy and real-time money transfer between Laos and Thailand.“Krungsri Blockchain Interledger is a real-time service of international funds transfer between the Lao PDR and Thailand for SMEs. With cutting-edge service, ...

KPL News Desk

BCEL, Swift Pass partner in payments through WeChat Pay and AliPay

VIENTIANE (Vientiane Times/ANN) – Banque pour le Commerce Exterieur Lao Public (BCEL) is partnering with Swift Pass to enable payments through WeChat Pay and AliPay so that Lao shops and other businesses are more attractive to Chinese customers.An official launch of WeChat Pay and AliPay ...

News Desk
http://annx.asianews.network/content/bcel-swift-pass-partner-payments-through-wechat-pay-and-alipay-106312

BCEL, EV Lao to produce smart card for electric vehicle charging payments

VIENTIANE (Vientiane Times/ANN) – Banque pour le Commerce Exterieur Lao Public (BCEL) and the EV Lao Co., Ltd. are partnering in the production of a smart card for the payment of charging costs for electric vehicles.A Memorandum of Understanding on the project was signed in ...

News Desk
http://annx.asianews.network/content/bcel-ev-lao-produce-smart-card-electric-vehicle-charging-payments-105755

Bank of Laos offers new savings bond investment opportunity

VIENTIANE (Vientiane Times/ANN) – The Bank of the Lao PDR (BOL) yesterday announced the sale of US dollar savings bonds, offering new investment opportunities and attractive returns.According to a press release obtained by the Vientiane Times from the central bank’s website, the US dollar denominated ...

Ekaphone Phouthonesy
http://annx.asianews.network/content/bank-lao-offers-new-savings-bond-investment-opportunity-105363

Banks commit financial support for investment in Mekong-Lancang

VIENTIANE (Vientiane Times/ANN) – Commercial banks have pledged continuing financial support to boost investment in the Mekong-Lancang region towards realisation of the ‘Belt and Road Initiative’.Speaking at a conference in Vientiane last week, General Manager of the Industrial and Commercial Bank of China (ICBC)’s Vientiane ...

Souksakhone Vaenkeo
http://annx.asianews.network/content/banks-commit-financial-support-investment-mekong-lancang-105282

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