Banking and financial services

VIENTIANE (Vientiane Times/ANN) – The injection of bank credit into the economy continues to slow despite government measures to improve the investment climate for the private sector. According to a recent government report, credit growth further moderated to 3.13 percent over the past three months of this ...

VIENTIANE (Vientiane Times/ANN) – The Bank of the Lao PDR requires closer cooperation with relevant sectors to create a national QR code standard for banks and financial institutions to further enable the convenient payment service.Officials from different banks and financial institutions, including representatives from relevant ...

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 ...

Singapore-based blockchain services provider EVX Holdings, Pte. Ltd., operating as Everex, has signed a Memorandum of Understanding (MoU) with Lao Development Bank (LDB) to develop and implement blockchain technology for cross-border payments and trade finance.More ...

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 Bankers’ Association (LBA) is working to upgrade the skills of employees of banks that are members of the association by equipping them with broader understanding of risk management and prevention of money laundering and terrorism financing.The LBA’s Chairman, Mr ...

VIENTIANE (Vientiane Times/ANN) – Laos’ banks are hopeful that the introduction of quick and quality services will also come with added security in the cross-border payment process, to better serve and protect clients.To this end, the Lao Bankers’ Association invited experts from the Society for ...

VIENTIANE (Vientiane Times/ANN) – The Bank of the Lao PDR has warned commercial banks, businesses and members of the public not to buy, sell or use cryptocurrency for money transactions as this practice is illegal.The central bank’s Transaction System Management Department recently issued the warning ...

VIENTIANE (Vientiane Times/ANN) – The Bank of the Lao PDR (BOL) is drafting a plan to promote cashless payments and to facilitate and manage money transactions in Laos.Use of e-wallets through the banking system is fast becoming a trend among city dwellers. They pay their ...