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Banks, financial institutes ordered to defer principal and interest payments

The Bank of the Lao PDR has issued a decision ordering commercial banks and micro-financial institutes to postpone for three months – from May – deadlines for principal and interest payments for those who have borrowed loans for living expenses.  The decision, dated May 13, 2021, ...

KPL

Lao banking industry updated on financial regulations

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 ...

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