Agreement on Management of Foreign Currency Deposit Accounts in the Lao PDR
老挝人民民主共和国外币存款账户管理协议
ຂໍ້ຕົກລົງວ່າດ້ວຍ ການຄຸ້ມຄອງບັນຊີເງິນຝາກເງິນຕາຕ່າງປະເທດ ຢູ່ ສປປລາວ
Summary
This regulation governs the conditions, application process, and required documents for opening foreign currency deposit accounts by individuals, enterprises, and organizations with or without residence in Laos, excluding accounts related to import/export and investment.
Articles
Article ມາດຕາ 1
Article 2 Management of Foreign Currency Deposit Accounts in the Lao PDR
Management of foreign currency deposit accounts in the Lao PDR means the implementation of principles, regulations and measures for the opening and operation of foreign currency deposit accounts of residents and non-residents in the Lao PDR with any commercial bank as stipulated in this agreement.
Article ມາດຕາ 2
Article 2 Scope of Application
This agreement applies to persons with or without domicile in the Lao PDR, including commercial banks, internal departments of the BOL and BOL regional branches, whose activities involve the management of foreign currency deposit accounts in the Lao PDR.
This agreement does not apply to deposit accounts related to import-export and investment.
Article ມາດຕາ 3
Article 4 Opening of Foreign Currency Deposit Accounts
Persons with or without domicile in the Lao PDR may bring foreign currency in their possession to deposit at any commercial bank, which shall open a foreign currency deposit account by issuing a name and account number to the depositor.
Types of foreign currency deposit accounts include: current deposit accounts, savings deposit accounts, fixed deposit accounts, and other types of deposit accounts provided by commercial banks.
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