Banking and financial services policy and regulation

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, ...

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 ...

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 ...

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 ...

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, ...

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 ...

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 ...

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 ...

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 ...

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 ...