Banking and financial services

VIENTIANE (Vientiane Times/ANN) – Germany and Australia have provided US$4.5 million to develop locally-run systems that enable impoverished people to more easily access finance.Representatives from the Lao government, Germany and Australia met on May 9 to launch Phase V of the US$4.5 million Access to ...

VIENTIANE (Vientiane Times/ANN) – Businesses and the general public prefer to deposit their money in foreign currency accounts despite the Bank of the Lao PDR actively promoting use of the national currency.According to the latest annual report from the Bank of the Lao PDR, the ...

VIENTIANE (Vientiane Times/ANN) – Banque pour le Commerce Exterieur Lao (BCEL) Public has officially launched a credit card and a prepaid debit card under the BCEL World Mastercard brand to meet the travel and shopping needs of Lao people with a better and safer alternative ...

The Bank of Thailand and the Bank of Laos PDR have signed a memorandum of understanding (MOU) on cooperation in the areas of financial innovation and payments systems in Chiang Rai yesterday after the meeting of the 5th Asean Finance Ministers’ and Central Governors’ Meeting ...

VIENTIANE (Vientiane Times/ANN) – The Bank of the Lao PDR (BOL) and its development partners are keen to equip more people in the country with knowledge about financial literacy as part of efforts to empower them with key economic skills.BOL, as a supervisor of the ...

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 Banque pour le Commerce Exterieur Lao Public (BCEL), representing the Ministry of Finance, has obtained agreement from the Lao-China Securities Company Limited (LCS), as its financial advisor and assurance authority, for the sale of 19 percent of BCEL’s shares held ...

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 ...

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 ...