Decision on Important Payment Systems
决定 关于重要支付系统
ຂໍ້ຕົກລົງ ວ່າດ້ວຍລະບົບການຊຳລະທີສຳຄັນ
Summary
Decision of the Bank of Laos on management principles, regulations, and measures for important payment systems, including system types (RTGS, check retail clearing, national budget retail clearing), responsibilities of system supervisors, risk management and IT security, member management and competition promotion, member activities, supervision and inspection bodies, inspection and reporting system, and effectiveness, with 34 articles, signed by the Governor of the Bank of Laos, Sonexay Sitphaxay.
Articles
Article 1
Purpose. This Decision stipulates principles, regulations, and measures regarding the management of important payment systems in the Lao People’s Democratic Republic, in order to render the payment system efficient, robust, secure, and with appropriate risk management, aiming to ensure that the important payment system continuously, conveniently, rapidly, and efficiently provides services, contributing to national economic and social development.
Article 2
Important Payment System. An important payment system refers to a payment system in which the Bank of the Lao PDR acts as the system operator and provides services, and in which clearing and debit obligations are performed.
Article 3
Definition of Terms. The terms used in this Decision shall have the following meanings: 1. Important System Supervisor refers to the supervisor of an important payment system and the service provider of an important payment system; 2. Member refers to a person authorized by the supervisor to use an important payment system; 3. External Service Provider (Outsourcing) refers to a legal entity hired by the Important System Supervisor to assist in managing a specific information technology system of the Important System Supervisor.
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