Banking and financial services policy and regulation

VIENTIANE (Vientiane Times/ANN) – The Lao National Chamber of Commerce and Industry (LNCCI) is developing a long-term business strategy based on green and sustainable development, to comply with the government’s policy on SME development.More ...

Individuals and legal entities who do not run a financial institution should not be permitted to operate currency exchange businesses as their operation has affected the value of the national currency. National Assembly (NA)’s members made the suggestion when debating the amendment draft to the Law ...

The Governor of the Bank of the Lao PDR has gained legal backing to chair the central bank’s top policy and decision-making body. More ...

The Bank of Laos (BOL) has issued a notice warning the public against the use of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, which are unregulated currencies that are not tied to physical cash reserves.More ...

The government will adopt a policy of issuing domestic bonds in the local currency to avoid risks linked to the exchange rate and to strengthen the domestic capital market. Under this policy, the payment of interest will be made to internal bond holders, which should ...

Government officials from Vientiane and Champassak province recently met in Luang Prabang and Champassak to discuss anti-money laundering efforts. More ...

The duties and structure of the Bank of the Lao PDR’s executive board were at the centre of debate at the National Assembly (NA) yesterday, with the aim of strengthening the bank’s management and preventing illegal financial activities.More ...

(KPL) Economists have suggested it may be the time for the government to use its foreign reserve to ease rising fuel prices warning that implications from the rising prices could be high inflation.More ...

Despite budgetary tensions, the government is working to pay a total of 3.25 trillion kip owed to private companies under the triangle-debt-diversion disbursement initiative. Addressing the National Assembly yesterday, Deputy Prime Minister and Minister of Finance, Mr Somdy Duangdy, clarified the government’s position regarding the ...

The government is piloting the Lao National Single Window (LNSW) scheme at international border crossings, seeking to speed up customs clearance for vehicles and link the country to the Asean single window system. The Ministry of Finance’s Customs Department signed a Memorandum of Understanding (MOU) ...