Economy and commerce
Banking and financial services
Laos to Tighten Management of Exchange Rates
The Lao government has stressed the need to tighten the management of currency exchange rates amid the widening gap between the official and market rates.In a media release issued at the end of the cabinet’s monthly meeting on August 19, the government said the increasing ...
The Laotian Times
https://laotiantimes.com/2019/09/02/laos-to-tighten-management-of-exchange-rates/
Lao cabinet pushes for effective management of exchange rates
VIENTIANE (Vientiane Times/ANN) – The cabinet has named the management of currency exchange as one of its top priorities in the coming months, as the gap between the official and market exchange rates widens.According to a media release issued at the end of the cabinet’s ...
Ekaphone Phouthonesy
http://annx.asianews.network/content/lao-cabinet-pushes-effective-management-exchange-rates-102988
Customs officials step up campaign against money laundering
VIENTIANE (Vientiane Times/ANN) – Informative banners have been installed at border crossings to inform travellers about Lao regulations regarding the possession and transportation of currency.The initiative is part of a nationwide awareness-raising campaign conducted by the Anti-Money Laundering Intelligence Office (AMLIO) and Lao Customs in ...
News Desk
http://annx.asianews.network/content/customs-officials-step-campaign-against-money-laundering-102627
LNCCI, banks sign agreement to improve access to finance
VIENTIANE (Vientiane Times/ANN) – The Lao National Chamber of Commerce and Industry (LNCCI) has signed an agreement with eight commercial banks to support efforts to strengthen business operators in Laos through access to finance.The cooperation agreement was signed recently in Vientiane between LNCCI and representatives ...
News Desk
http://annx.asianews.network/content/lncci-banks-sign-agreement-improve-access-finance-102114
World Bank urges Laos to let kip follow market
VIENTIANE (Vientiane Times/ANN) – The World Bank has recommended that Laos let its currency follow the market as other nations cut interest rates in the wake of the US-China trade dispute.World Bank Senior Economist, Mr Somneuk Davading, gave the advice during the launch of the ...
Somsack Pongkhao
http://annx.asianews.network/content/world-bank-urges-laos-let-kip-follow-market-102043
LDB to enhance collaboration with international partners
VIENTIANE (Vientiane Times/ANN) – Alipay is available for use by Lao and foreigners at the state-owned Lao Development Bank (LDB). The bank is also preparing to step up cooperation with international partners overseas and is expected to list on the Lao Securities Exchange at some ...
News Desk
http://annx.asianews.network/content/ldb-enhance-collaboration-international-partners-102041
Bank of Laos advised to more strictly regulate money changers
VIENTIANE (Vientiane Times/ANN) – The Bank of the Lao PDR (BOL) should not merely issue warnings to money changers who break the currency regulation rules, a senior Lao National Chamber of Commerce and Industry (LNCCI) official said yesterday.The remarks were made during a consultative meeting ...
News Desk
http://annx.asianews.network/content/bank-laos-advised-more-strictly-regulate-money-changers-101752
Indonesia’s Largest Bank Mandiri Eyes Lao Market
Indonesia’s state-owned Mandiri Bank has announced its intention to enter Laos and Cambodia.Rohan Nafas, Mandiri Bank corporate secretary, said the bank is now studying the best ways of penetrating the two new markets.More ...
The Laotian Times
https://laotiantimes.com/2019/08/07/indonesias-largest-bank-mandiri-eyes-lao-market/
LDB partners with KIWI for transactions through Alipay
VIENTIANE (Vientiane Times/ANN) – Chinese investors and companies will soon be able to conduct transactions through the Alipay system in Laos.The Lao Development Bank (LDB) entered into an agreement with KIWI Company Limited on July 30 to roll out the service.KIWI is a leading Fintech ...
Manichanh Pansivongxay
http://annx.asianews.network/content/ldb-partners-kiwi-transactions-through-alipay-101455
BCEL, UnionPay to Launch QR Code Payment Service in Laos
Banque pour le Commerce Exterieur Lao Public (BCEL) has joined hands with Chinese payment service provider UnionPay International (UPI) to roll out new QR code payment services in Laos.The move will enable UnionPay app users to make payments by scanning QR codes at local stores ...
The Laotian Times
https://laotiantimes.com/2019/07/23/bcel-unionpay-to-launch-qr-code-payment-service-in-laos/