Decision on Credit and Savings Cooperatives (No. 095/BOL)
关于信贷与储蓄合作社的决定（第095/BOL号）
ຂໍ້ຕົກລົງ ວ່າດ້ວຍສະຫະກອນສິນເຊື່ອ ແລະ ເງິນຝາກປະຢັດ (ເລກທີ 095/ທຫລ)
Summary
This decision, No. 095/BOL issued by the Bank of the Lao PDR on December 18, 2021, stipulates principles, regulations, and measures for the establishment, operation, management, and supervision of credit and savings cooperatives, aiming to promote inclusive finance, poverty reduction, and national socio-economic development, with 89 articles in 13 chapters.
Articles
Article 1
Article 1. Purpose. This Decision stipulates principles, regulations, and measures concerning the establishment, operation, management, and supervision of credit and savings cooperatives, so as to ensure their proper and stable operation, aiming to create conditions for people of all ethnic groups to have broad access to financial services, participate in poverty alleviation, and contribute to the country's socio-economic development.
Article 2
Article 2 Credit and Savings Cooperatives. Credit and savings cooperatives (hereinafter referred to as "CSCs") are collective operating organizations jointly established by persons engaged in the same occupation or other occupations on a voluntary basis, aiming at mutual cooperation and mutual assistance in financial matters, and are permitted to operate in accordance with this Decision.
Article 3
Article 3. Definition of Terms. The terms used in this Decision shall have the following meanings:
1. Registered capital means the total amount of share capital contributed by all members constituting the initial capital upon the establishment of a credit and savings cooperative;
2. Related persons means management personnel, persons related to them, and persons having a business interest relationship with management personnel;
3. Management personnel means members of the board of directors, internal inspection committee, credit committee, executive committee, or departments or business units of the credit and savings cooperative;
4. Persons related to them means children (biological children, adopted children, stepchildren), spouses (husband or wife), direct or collateral relatives of management personnel.
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