Agreement on Management of Deposit Accounts Opened Abroad
关于境外开立存款账户管理协议
ຂໍ້ຕົກລົງວ່າດ້ວຍ ການຄຸ້ມຄອງການເປີດບັນຊີເງິນຝາກຢູ່ຕ່າງປະເທດ
Summary
This regulation governs the opening of deposit accounts abroad by persons residing in Laos, with core classification: some may open accounts immediately, while others require central bank permission.
Articles
Article ມາດຕາ 1
Article 1 Purpose
This agreement stipulates principles, regulations, and measures regarding the opening of foreign deposit accounts, aiming to ensure the movement of deposit accounts abroad for persons domiciled in the Lao People's Democratic Republic, in compliance with relevant laws and regulations, and to be manageable and monitorable, with a view to creating monetary balance in the economic system of the Lao PDR.
Article ມາດຕາ 2
Article 2 Management of Opening Deposit Accounts Abroad
Management of opening deposit accounts abroad refers to the organization and implementation of principles, regulations, and measures concerning the deposit of funds with any commercial bank or financial institution abroad by persons domiciled in the Lao People's Democratic Republic for the purpose of conducting deposit, withdrawal, transfer, and other transactions that such commercial bank or financial institution provides.
Article ມາດຕາ 3
Article 3 Scope of Application
This agreement applies to persons domiciled in the Lao PDR, the Foreign Exchange Management Department, and regional branches, in relation to activities concerning the opening of deposit accounts abroad.
This agreement does not apply to the opening and use of deposit accounts abroad related to
...
commercial banks...
Part 2
Objectives and types eligible to open deposit accounts abroad
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