Agreement Amending Article 10 of the Regulation on Foreign Currency Deposit Accounts in the Lao People's Democratic Republic

关于修订在老挝人民民主共和国外汇存款账户管理办法第十条的协议

ຂໍ້ຕົກລົງວ່າດ້ວຍ ການປັບປຸງມາດຕາ 10 ຂອງຂໍ້ຕົກລົງວ່າດ້ວຍ ການຄຸ້ມຄອງບັນຊີເງິນຝາກເງິນຕາຕ່າງປະເທດ ຢູ່ ສປປລາວ

Summary

This regulation revises rules for fund transfers from foreign currency deposit accounts, setting different limits and fee standards for individual and corporate accounts, and specifying that certain transfer scenarios are exempt from fees.

Articles

Article ມາດຕາ 1

Article 2 Amended Articles of the Agreement
The content of the amended articles of the agreement is as follows:

Article ມາດຕາ 2

Article 10 Transfer of Funds
Deposit account holders may transfer funds only through foreign currency deposit accounts in the same currency, subject to the following:

1. Transfers between foreign currency deposit accounts of different individuals shall be subject to a transfer fee charged by the originating commercial bank of three-tenths of one percent (0.3%) of the transaction value, but not less than five (5) US dollars or equivalent and not exceeding thirty (30) US dollars or equivalent per transaction, applied in each case as follows:

1.1. Individual foreign currency deposit accounts:

1.1.1. Amounts not exceeding ten thousand (10,000) US dollars or equivalent per day must specify the purpose of the transfer;

1.1.2. Amounts of ten thousand (10,000) US dollars or equivalent and above per day must specify the purpose of the transfer and attach relevant documents as determined by the Foreign Exchange Management Department in each period;

1.2. Enterprise and organization foreign currency deposit accounts:

1.2.1. Amounts not exceeding one hundred thousand (100,000) US dollars or equivalent per day must specify the purpose of the transfer;

1.2.2. Amounts of one hundred thousand (100,000) US dollars or equivalent and above per day must specify the purpose of the transfer and attach relevant documents as determined by the Foreign Exchange Management Department in each period.

2. Transfers between foreign currency deposit accounts shall be subject to transfer fees as determined by the commercial bank in each case as follows:

2.1. Transfers between foreign currency deposit accounts of the same person;

2.2. Transfers between a commercial bank and its customers within the scope of banking business, such as granting or repaying loans, paying deposit interest and loan interest, paying fees and service charges;

2.3. Transfers for the purchase, sale, payment of interest, payment of fees and service charges related to shares, bonds at the stock exchange, securities market and securities companies;

2.4. Transfers for the fulfillment of obligations to the state;

2.5. Transfers between non-bank payment service providers and their customers;

2.6. Transfers as determined by the Foreign Exchange Management Department.

Article ມາດຕາ 3

Article 3 Replacement of Contents of Certain Articles of the Agreement
This Agreement replaces the contents of Article 10 of the Agreement on the Management of Foreign Currency Deposit Accounts in the Lao PDR, No. 155/ທຫລ, dated 19 February 2025.

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