Banking and financial services
Banking and financial services policy and regulation
Lao Chamber of Commerce and Industry lays out concrete steps towards economic development
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 ...
News Desk
NA members urge stricter measures to manage currency exchange
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 ...
Times Reporters
Central bank governor gets new legal backing
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 ...
Ekaphone Phouthonesy
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