Central Bank Tightens Monetary Policy
The move is aimed at reducing the amount of money in circulation and curbing the spiralling inflation rate, which was recorded at 9.9 percent in April.
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BOL Bank of Laos
BOL To Take Urgent Action On Differences In Exchange Rates
The Bank of the Lao PDR (BOL) is now working to tackle several unresolved issues related to financial matters, including differences between the exchange rates in the market and banks.
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Laos’ Banks Linked For Money Transfers Via Mobile App
Customers of many banks in Laos will now be able to transfer money via a mobile application managed by the joint venture Lao National Payment Network Co Ltd (LAPNet) under the Bank of the Lao PDR (BOL).
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BOL To Transform IT Infrastructure System
The Bank of the Lao PDR (BOL) is upgrading its IT infrastructure system to ensure financial transaction services throughout the country.
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Inflation Surges In August
The price of food and beverages increased by 9.91 percent year-on-year and 2.19 percent month-on-month
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Lao Central Bank Imposes New Regulation For Currency Exchanges
The Bank of the Lao PDR has come up with a new administrative rule designed to administer currency exchange businesses amid the appreciation of international currencies against the Lao kip.
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Laos Suffering From Limited Sources Of Foreign Currency
Source: Vientiane Times Laos needs at least US$4 billion in foreign currencies to purchase goods from other countries each year,
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BOL Launches Real Time Financial System
Bank of the Lao PDR (BOL) has officially launched the Lao Payment and Settlement System (LaPASS), a real-time gross settlement system, to promote a more efficient financial system.
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Cabinet Pushes For Effective Management Of Exchange Rates
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.
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BOL Teams Up With Police To Combat Money Laundering
The government is taking a tough stance on financial transparency as well as crime prevention, especially in the area of money laundering, to help encourage foreign direct investment in Laos.
As part of government’s efforts to bring the country’s financial standards in line with international systems, the Bank of the Lao PDR (BOL)’s Anti-Money Laundering Intelligence Unit yesterday signed a Memorandum of Understanding (MoU) with the ….