Law of The Bank of Lao PDR (Amended)
老挝人民民主共和国银行法（修订版）
ກົດໝາຍວ່າດ້ວຍ ທະນາຄານແຫ່ງ ສາທາລະນະລັດ ປະຊາທິປະໄຕ ປະຊາຊົນລາວ (ສະບັບປັບປຸງ)
Summary
This Law stipulates the organization and operation of the banking system in the Lao People's Democratic Republic, aiming to regulate the duties, powers, and business activities of the central bank and financial institutions. This Law applies to all types of banks and related financial entities within the territory, defining the regulatory framework and operational standards to maintain financial stability and promote economic development.
Articles
Article 1
Article 1 (Amended) Purpose
This Law stipulates principles, regulations, and measures regarding the organization and activities of the Bank of the Lao People's Democratic Republic to ensure the effective and efficient performance of its duties, rights, and obligations, aiming to guarantee stability in the monetary field, the soundness of financial institutions, and the strength and modernization of the payment system, capable of integrating with the region and internationally, contributing to the national socio-economic development.
Article 2
Article 2 (Amended) Bank of the Lao People’s Democratic Republic
The Bank of the Lao People’s Democratic Republic is the central bank of the Lao People’s Democratic Republic and is the institution responsible for macro-management of currency, financial institutions, and the payment system.
The Bank of the Lao People’s Democratic Republic is referred to as the Bank of the Lao People’s Democratic Republic, abbreviated as “Bank of Laos (ທຫລ).”
Article 3
Article 3 (Amended) Interpretation of Terms
The terms used in this Law shall have the following meanings:
1. Financial institution means banks and non-bank financial institutions;
2. Bank means commercial banks and other banks under the management of the Bank of the Lao PDR;
3. Non-bank financial institution means deposit-taking microfinance institutions, non-deposit-taking microfinance institutions, credit guarantee companies, asset management companies, financial leasing companies, credit and savings cooperatives, pawnshops, payment service operators, and other non-bank financial institutions under the management of the Bank of the Lao PDR;
4. Currency means the currency of the Lao People's Democratic Republic expressed in the form of banknotes, coins, digital currency, and other lawful forms;
5. Banknote means currency expressed in the form of paper or plastic;
6. Coin means currency expressed in the form of metal;
7. Digital currency means a digital form of the Kip issued by the Bank of the Lao PDR, with a value equivalent to banknotes and coins;
8. Currency printing means the act of printing banknotes, minting coins, issuing digital currency, and other lawful forms of currency by the Bank of the Lao PDR;
9. Securities means instruments evidencing debt repayment obligations between the issuer and the holder, including bonds, certificates of deposit, and other instruments, with terms agreed upon regarding maturity, interest, and other conditions;
10. Enterprise engaged in strategic work means an enterprise of importance, necessity, and priority to support the duties of the Bank of the Lao PDR, particularly in credit information work, banknote printing and coin minting operations, payment system development, foreign exchange market, etc.;
11. Unit supporting financial stability means a unit performing deposit protection work, credit guarantee work, and other work supporting the sound and safe operation of financial institution activities.
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