Banking and financial services

VIENTIANE (Vientiane Times/ANN) – The Bank of the Lao PDR (BOL) plans to resume granting permission for microfinance businesses from March after suspending the clearance of such units in 2017.Entrepreneurs interested in setting up non-deposit taking microfinance businesses, money transfer services, leasing enterprises and pawn ...

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 ...

(KPL) The Export-Import Bank (EXIM) of Thailand on Nov 30 opened its Vientiane-based representative office to support the Lao government’s policy on trade and investment integration into the Mekong sub region which covers Cambodia, Laos, Myanmar, Thailand and Vietnam.More ...

KASIKORNBANK Plc (KBank) plans to boost its business in Laos by applying for a new licence for mobile banking and digital platform to drive its year-on-year growth to 15 per cent in 2019, Pattanapong Tansomboon, KBank’s first senior vice president, said recently.More ...

As part of the key strategy to expand businesses within AEC+3, KBank is now ready to tap into Lao PDR through numerous services and local partnership arrangements, the company said in a press release issued on Friday.For 2019, targets have been set to bolster loans ...

(KPL) The Joint Stock Commercial Bank for Foreign Trade of Vietnam, Vietcombank, officially inaugurated its Vietcombank in Vientiane on Oct 19.Located on Lane Xang Avenue, a finance-banking hub in downtown Vientiane, the Vietcombank Laos chapter has a charter capital of US$ 80 million, the highest ...

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 ...

ACLEDA Bank Lao announced yesterday launched its new “ACLEDA Unity Thanchai” mobile phone banking service. A virtual ‘bank in your hand,’  it provides a convenient and secure way to manage all daily banking transactions anytime and anywhere. It is available in both Lao and English languages and handles transactions in LAK (Lao ...