Fintech Testing Agreement

金融科技测试协议

ຂໍ້ຕົກລົງວ່າດ້ວຍ ການທົດສອບເຕັກໂນໂລຊີດ້ານການເງິນ

Summary

This regulation governs fintech testing activities in Laos, outlining testing principles, participation conditions, application documents, and approval procedures to ensure safe and orderly financial innovation.

Articles

Article ມາດຕາ 1

Article 4 Principles on Financial Technology Testing

Financial technology testing shall follow the following principles:

1. Ensure financial services are of quality and up-to-date;
2. Promote users to have a choice in using diverse products;
3. Ensure the stability of financial institutions;
4. Protect the rights and legitimate interests of users.

Article ມາດຕາ 2

Article 2 Characteristics of Fintech Eligible for Testing

Fintech eligible for testing must have the following characteristics:

1. Be a fintech that has never existed before in the Lao PDR;

2. Enhance the efficiency of existing financial services;

3. Help promote access to financial services or remedy deficiencies in financial services in the Lao PDR;

4. Be an innovation that can be developed into infrastructure or a central standard for the banking sector of the Lao PDR, which financial service providers must implement uniformly;

5. Not affect the stability of financial institutions and/or the monetary stability of the Lao PDR;

6. Reduce the use of cash and promote the use of the kip in society;

7. Promote market competition or have a testing objective to enter the market in the future;

8. Be an innovation or new fintech that requires testing before being opened for service, as determined by the Bank of the Lao PDR on a case-by-case basis;

9. Prevent use as a channel for money laundering, terrorist financing, and evasion of law enforcement;

10. Other characteristics as determined by the Bank of the Lao PDR.

Article ມາດຕາ 3

Article 3 Scope of Application
This agreement applies to individuals, legal entities, and organizations involved in financial technology testing.

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