Deposit Amount Agreement
保证金金额协议
ຂໍ້ຕົກລົງວ່າດ້ວຍ ວົງເງິນປົກປ້ອງ
Summary
This regulation sets the maximum protection amount for each depositor at each member institution at 100 million kip, and specifies that protection payments are made in kip and rules for foreign currency conversion.
Articles
Article ມາດຕາ 1
Article 2 Protection Limit
The protection limit is the maximum amount of one hundred million (100,000,000) kip per depositor per member institution, which the Deposit Protection Office pays to depositors who have deposited with any member of the Deposit Protection Office after receiving an official letter from the Bank of the Lao PDR to proceed with the payment of protection money.
The protection money must be paid in kip currency; for deposits in foreign currency, it shall be calculated according to the exchange rate (buying rate) determined by the Bank of the Lao PDR on the last day of business of the member.
Article ມາດຕາ 2
Article 2 Implementation
The Deposit Protection Office, members of the Deposit Protection Office, depositors, and relevant parties shall acknowledge and strictly implement this agreement.
Article ມາດຕາ 3
Article 4 Effect
This agreement shall come into force from the date of signing and shall replace the agreement on the amount of protection No. 1197/ທຫລ, dated December 31, 2019. Any provisions contrary to this agreement are hereby repealed.
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