Banking and financial services

VIENTIANE (Vientiane Times/ANN) – Banque pour le Commerce Exterieur Lao Public (BCEL) and the EV Lao Co., Ltd. are partnering in the production of a smart card for the payment of charging costs for electric vehicles.A Memorandum of Understanding on the project was signed in ...

VIENTIANE (Vientiane Times/ANN) – The Bank of the Lao PDR (BOL) yesterday announced the sale of US dollar savings bonds, offering new investment opportunities and attractive returns.According to a press release obtained by the Vientiane Times from the central bank’s website, the US dollar denominated ...

VIENTIANE (Vientiane Times/ANN) – Commercial banks have pledged continuing financial support to boost investment in the Mekong-Lancang region towards realisation of the ‘Belt and Road Initiative’.Speaking at a conference in Vientiane last week, General Manager of the Industrial and Commercial Bank of China (ICBC)’s Vientiane ...

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 ...

Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) has inaugurated the headquarters in the Lao capital Vientiane, a move that comes amid increasing cooperation between Laos and Vietnam in the banking and finance sectors.VietinBank opened its first branch in Laos in 2012, which ...

VIENTIANE (Vientiane Times/ANN) – The central banks of Laos and Vietnam will enhance bilateral cooperation in information technology, technical matters and other important areas related to banking.Senior officials of the two banks met in Vientiane yesterday, led by Governor of the Bank of the Lao ...

VIENTIANE (Vientiane Times/ANN) – The Banking Operation Department under the Bank of the Lao PDR (BOL) has signed up 10 commercial banks to seek a loan of US$300 million from China Development Bank (CDB) for the promotion of small and medium-sized enterprises (SMEs) in Laos.A ...

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 ...