Banking and financial services

Banking and financial services policy and regulation

Bank of Laos Warns Public Against Use of Cryptocurrencies

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 Laotian Times

Issuing bonds in nation’s own currency likely

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 ...

Somsack Pongkhao

Money laundering prevention links Lao, US efforts

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

Vientiane Times

NA debates draft law on central bank

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 ...

Vientiane Times

Gov’t Suggested To Use Reserve To Calm Down Rising Fuel Prices

(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 ...

KPL editor

Govt takes steps to repay debts to local firms 

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 ...

Somsack Pongkhao

Govt piloting single-window customs clearance for vehicles 

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) ...

Somsack Pongkhao

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