Banking and financial services policy and regulation

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 ...

VIENTIANE (Vientiane Times/ANN) – The Bank of the Lao PDR (BOL) should not merely issue warnings to money changers who break the currency regulation rules, a senior Lao National Chamber of Commerce and Industry (LNCCI) official said yesterday.The remarks were made during a consultative meeting ...

The Ministry of Finance believes the management of the public finance system will be more effective, transparent and auditable after two supporting reform projects were officially launched last Friday.The two-newly launched initiatives are the Enhancing Public Finance Management through Information and Communication Technology and Skills ...

VIENTIANE (Vientiane Times/ANN) – Prime Minister Thongloun Sisoulith has asked members of the National Assembly (NA) to consider the use of incentives to entice private business investment for public infrastructure projects.The government wants to encourage investments that are licensed under a Build-Operate-Transfer (BOT) model in ...

VIENTIANE (Vientiane Times/ANN) – The management of the Lao currency is being moderately implemented across the country and it is stable as the rate of inflation stands at 1.5 per cent. However, the National Assembly (NA) has given the government the task of bringing the currency ...

VIENTIANE (Vientiane Times/ANN) – The Lao banking sector is working to improve regulations and update preparations for implementing the Basel II principles, including learning about the International Financial Reporting Standard (IFRS 9).IFRS 9 is promulgated by the International Accounting Standards Board (IASB) and addresses accounting ...

VIENTIANE (Vientiane Times/ANN) – The Bank of the Lao PDR (BOL) has warned the public not to exchange, buy or sell foreign currencies through five categories of non-bank microfinance institutions.The five types of microfinance business are deposit-taking microfinance institutions, non-deposit taking microfinance institutions, savings and ...

The Bank of the Lao PDR must introduce more concrete measures to keep the value of the kip stable, otherwise the country will face a big challenge in keeping the cost of living at an acceptable level, according to a report from the Lao National ...