Banking and financial services

Banking and financial services policy and regulation

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

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

Laos: Central bank to circulate 2015 version of 500 kip note

VIENTIANE (Vientiane Times/ANN) – The Bank of the Lao PDR has announced that it will issue a 2015 version of the 500 kip banknote. It is giving advance notice of the circulation of the new banknote in a bid to prevent doubts about the validity ...

Ekaphone Phouthonesy
http://annx.asianews.network/content/laos-central-bank-circulate-2015-version-500-kip-note-105205

Training supporting local moves to adopt int’l accounting standards

VIENTIANE (Vientiane Times/ANN) – Laos is keen to adopt international accounting standards as part of efforts to upgrade public sector finance administration through capacity-building for finance officials countrywide.A five-day training of trainer programme to build these skills among officials has been jointly organised by the ...

Bounfaeng Phaymanivong
http://annx.asianews.network/content/training-supporting-local-moves-adopt-int%E2%80%99l-accounting-standards-104810

Central bank imposes measures to stabilise kip

The Bank of the Lao PDR has imposed measures to help prevent the further depreciation of the kip against international currencies.According to a newsletter published by the central bank earlier this week, to prevent the kip sliding further against the US dollar and Thai baht, ...

Ekaphone Phouthonesy

Kip weakens against Thai baht, hurts Lao importers

VIENTIANE (Vientiane Times/ANN) – The continuously weakening value of the Lao kip against the Thai baht has hurt businesses in Laos, especially those engaged in import operations, forcing them to accept a cut in profits.As of September 2, the exchange rate at the Banque pour ...

Bounfaeng Phaymanivong
http://annx.asianews.network/content/kip-weakens-against-thai-baht-hurts-lao-importers-103260

Laos to Tighten Management of Exchange Rates

The Lao government has stressed the need to tighten the management of currency exchange rates amid the widening gap between the official and market rates.In a media release issued at the end of the cabinet’s monthly meeting on August 19, the government said the increasing ...

The Laotian Times
https://laotiantimes.com/2019/09/02/laos-to-tighten-management-of-exchange-rates/

Lao cabinet pushes for effective management of exchange rates

VIENTIANE (Vientiane Times/ANN) – The cabinet has named the management of currency exchange as one of its top priorities in the coming months, as the gap between the official and market exchange rates widens.According to a media release issued at the end of the cabinet’s ...

Ekaphone Phouthonesy
http://annx.asianews.network/content/lao-cabinet-pushes-effective-management-exchange-rates-102988

Customs officials step up campaign against money laundering

VIENTIANE (Vientiane Times/ANN) – Informative banners have been installed at border crossings to inform travellers about Lao regulations regarding the possession and transportation of currency.The initiative is part of a nationwide awareness-raising campaign conducted by the Anti-Money Laundering Intelligence Office (AMLIO) and Lao Customs in ...

News Desk
http://annx.asianews.network/content/customs-officials-step-campaign-against-money-laundering-102627

World Bank urges Laos to let kip follow market

VIENTIANE (Vientiane Times/ANN) – The World Bank has recommended that Laos let its currency follow the market as other nations cut interest rates in the wake of the US-China trade dispute.World Bank Senior Economist, Mr Somneuk Davading, gave the advice during the launch of the ...

Somsack Pongkhao
http://annx.asianews.network/content/world-bank-urges-laos-let-kip-follow-market-102043

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