Edict of the Percident of the Lao People’s Democratic Republic No. 034/P
Law on the Management of Foreign Currency No. 55/NA
Law on the Management of Foreign Currency
Article 2 Management of Foreign Currenc
Article 4 Policies of the State on the Management of Foreign Currency
Article 5 Principles for Foreign Currency Management Activities
Article 6 Obligations in the Management of Foreign Currency
Article 7. Scope of Application of Law
Article 8 International Cooperation
Part II: Activities Relating to Foreign Currency
Chapter 1: The Possession, Use of, and Exchange of Currency in the Lao PDR
Article 9 The Possession of Foreign Currency Within the Lao PDR
Article 10 Use of Currency within the Lao PDR
Article 12 Determination of Exchange Rates
Chapter 2: Transfer of Money, and Movement of Cash Currency Into and Out of the Lao PDR
Article 13 Transfer of Foreign Currency
Article 14 Movement of Cash Currency Into, and Out of the Lao PDR
Chapter 3: Opening Bank Accounts and the Use of Money in Savings Accounts
Article 15 Opening Bank Accounts and the Use of Money in Savings Accounts in the Lao PDR
Article 16 Opening Bank Accounts Abroad
Article 17 Management of Foreign Currency Revenues
Chapter 4: Operation of Foreign Currency Businesses
Article 18 Foreign Currency Businesses
Article 19 Authorization to Operate Foreign Currency Businesses
Article 20 Consideration of Foreign Currency Business Applications
Part III: Taking loans, Grants and the Import into, and the Export of Funds out of the Lao PDR
Article 21 Foreign Loans Taken Out by the Government
Article 22 Management of Grants
Article 23 Provision and Receipt of Foreign Loans and Commercial Credit
Chapter 2: Import into, and Export of Funds out of the Lao PDR
Article 24 Import of Foreign Investment Capital
Article 25 Export of Capital for Investment Abroad
Part IV: Foreign Payment Balances
Article 26 Foreign Payment Balances
Article 27 Consolidation of Statistics and Creation of Foreign Payment Balance Plans
Article 28 General Prohibitions
Article 29 mProhibitions on Foreign Currency Business Operators
Article 30 Prohibitions on Officers or civil Servants of the State
Article 31 Forms of Dispute Resolution
Article 32 Dispute Resolution through Mediation
Article 33 Administrative Resolution
Article 34 Resolution by the Economic Dispute Resolution Organization
Article 35 Resolution by the People’s Court
Article 36 International Dispute Resolution
Part VII: Management and Inspection of Foreign Currency Activities
Chapter 1: Management of Foreign Currency Activities
Article 37: Foreign Currency Management Organization
Article 38: Scope of Rights and Duties of the Bank of the Lao PDR
Article 39 Rights and Duties of other Ministries, Sectors and Local Administration Authorities
Part 2: Inspection of Foreign Currency Management Activities
Article 40 Inspection of Foreign Currency Management Activities
Article 41 Content of Inspection
Article 42 Forms of Inspection
Article 43 Rights and Duties of the Foreign Currency Management Activities Inspection Organization
Chapter VIII: Incentives for Good Performance and Measures Against Violators
Article 45 Incentives for Good Performance
Article 46 Measures Against Violators
Article 48 Disciplinary Measures
Article 52 Criminal Measures Against Violators who are Repeatedly Fined
LAO PEOPLE’S DEMOCRATIC REPUBLIC
PEACE INDEPENDENCE DEMOCRACY UNITY PROSPERITY
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President | No. 034/P |
Vientiane Capital, dated 30.01.2015 |
of the
PRESIDENT
of the
LAO PEOPLE’S DEMOCRATIC REPUBLIC
On the Promulgation of the Law on the Management of Foreign Currency
- Pursuant to Chapter VI, Article 67, Item 1 of the Constitution of the Lao People's Democratic Republic;
- Pursuant to Resolution No. 014/NA, dated 22 December 2015, of the National Assembly; and
- Pursuant to Proposal No. 06/NASC, dated 22 January 2015, of the National Assembly Standing Committee
The President of the Lao People's Democratic Republic
Decrees That:
Article 1. The Law on the Management of Foreign Currency is hereby promulgated.
Article 2. This decree shall enter into force on the date it is signed.
The President of the Lao People’s Democratic Republic
[Seal and Signature]
Choummaly SAYASONE
LL LAO PEOPLE’S DEMOCRATIC REPUBLIC
PEACE INDEPENDENCE DEMOCRACY UNITY PROSPERITY
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National Assembly | No. 014/NA |
of the
NATIONAL ASSEMBLY
of the
LAO PEOPLE’S DEMOCRATIC REPUBLIC
On the Adoption of the Law on the Management of Foreign Currency
- Pursuant to Article 53, Item 2 of the Constitution and Article 3, Item 1 of the Law on the National Assembly of the Lao People's Democratic Republic.
After broad consideration of the contents of the Law on the Management of Foreign Currency at 8th Session of the VII General Assembly of the National Assembly at the afternoon session on 22 December 2014.
The General Assembly Resolves to:
Article 1. Adopt The Law on the Management of Foreign Currency majority resolution.
Article 2. This resolution shall enter into force on the date it is signed.
Vientiane Capital, dated 22 December 2014
President of the National Assembly
[Seal and Signature]
Pany YATHOTOU
Lao People’s Democratic Republic
Peace Independence Democracy Unity Prosperity
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National Assembly | No. 55/NA |
Vientiane Capital, Dated 22 December 2014 |
on the Management of Foreign Currency
Part I
General Provisions
This Law determines the principles, regulations and measures relating to the operations, management, inspection of foreign currency businesses and transactions in order to [ensure] efficiency and correctness with the aim of value building and maintaining the stability of the National currency, promoting the domestic movement of goods-currency, expand international economic cooperation, and contribute to national socio economic development.
Article 2 Management of Foreign Currency
Foreign currency is the currency of another country, which includes banknotes, coins, cheques, cards, exchange bonds, Government bonds, enterprise bonds, share certificates other valuable documents and gold used by the International community as tools in order to make international payments.
The management of foreign currency is the management of currency businesses operations and international transactions of persons not-domiciled and persons domiciled in the Lao PDR in compliance with foreign currency laws and regulations.
The terms used in this Law have the following meanings:
1. Currency means the Kip currency and foreign currency.;
2. Exchange rate means the value of one currency compared to the value of another currency;
3. Reference exchange rate means the exchange rate which the Bank of the Lao PDR determines as a reference for commercial banks and currency exchange shops;
4. Commercial credit means goods purchase agreements and debt services;
5. Currency exchange shop means a business unit that provides currency exchange services;
6. Holding means the keeping of currency by one's self;
7. Domiciled in the Lao PDR means:
- Lao citizens resident in the Lao PDR;
- Lao citizens who go to study, travel, visit and receive medical treatment abroad;
- Lao officers or civil servants assigned to Lao embassies, consulates and international organizations in foreign countries;
- Lao citizens who live abroad for not more than one year;
- Lao State organizations and associations which operate domestically or abroad;
- Lao or foreign individuals and legal entities in the Lao PDR which are authorized to undertake business and lawfully registered in accordance with the laws of the Lao PDR,
- including representative offices of such legal entities established abroad for not more than one year;
- Foreigners who work in the Lao PDR for more than one year, who are not officers or employees of foreign embassies, consulates or international organizations; and
- Aliens and stateless persons who live and earn a living permanently in the Lao PDR.
8. Not domiciled in the Lao PDR means :
- Foreign individuals and legal entities resident in a foreign country;
- Foreigners who come to study, travel, visit and receive medical treatment in the Lao PDR;
- Foreign embassies, consulates, international organizations and foreign officers or employees of such organizations, foreign consultants, and experts assigned to the Lao PDR, including their families;
- Foreigners who reside in the Lao PDR for not more than one year;
- Representative offices of foreign legal entities established in the Lao PDR for not more than one year; and
- Lao citizens who live abroad for more than one year for other reasons than study or medical treatment; and
9. Transaction means currency activities relating to sales-purchase, exchange, loans, transfers, savings, withdrawals, payments, import-export and other activities.
Article 4 Policies of the State on the Management of Foreign Currency
The State manages foreign currency in a centralized and unified manner nationwide in order to ensure the stability of the national currency through the determination of versatile policies, the provision of facilities, contributing personnel, the provision of budgets and equipment to the relevant competent authorities as appropriate.
The State promotes individuals, legal entities and all sector organizations to participate in the activities and management of foreign currency.
The State emphasizes dissemination, training of, and the provision of information to the public in various forms to instill a sense of awareness in society to use the Kip currency and foreign currency in accordance with laws and regulations.
Article 5 Principles for Foreign Currency Management Activities
Foreign currency management activities shall be performed in accordance with the following principles:
Article 6 Obligations in the Management of Foreign Currency
Domestic and foreign individuals, legal entities and organizations which operate businesses and/or undertake transactions within the Lao PDR have an obligation to manage foreign currency, cooperate with, and participate in the implementation of such.
Article 7. Scope of Application of Law
This Law applies to domestic and foreign individuals, legal entities and organizations which operate businesses and/or undertake foreign currency transactions within the Lao PDR.
Article 8 International Cooperation
The State is open to foreign, regional and international cooperation in regards to the management of foreign currency through the exchange of data and information, lessons, experience, technology, the development of human resources and the implementation of international treaties and conventions to which the Lao PDR is a party.
Activities Relating to Foreign Currency
Chapter 1
The Possession, Use of, and Exchange of Currency in the Lao PDR
Article 9 The Possession of Foreign Currency Within the Lao PDR
Persons domiciled and not domiciled in the Lao PDR may possess foreign currency that is acquired legally by holding and/or opening savings account with commercial banks in the Lao PDR.
Article 10 Use of Currency within the Lao PDR
Domestic and foreign individuals, legal entities and organizations which operate businesses and/or undertake transactions within the Lao PDR may use foreign currency for the following objectives:
Except where otherwise authorized by the Government, individuals and legal entities shall use the Kip currency for the purchase-sale, the receipt of payments and the making of payments for goods, services, repayment of debts, salaries, making obligations to the State, the determination of prices, advertising the prices of goods and service charges, etc in the Lao PDR.
Domestic and foreign individuals, legal entities and organizations which operate businesses and/or undertake transactions within the Lao PDR that wish to change a currency into another currency shall only exchange such at a commercial bank or currency exchange shop authorized by the Bank of the Lao PDR.
The Ministry of Finance may exchange currencies through the banking system to make international payments.
Article 12 Determination of Exchange Rates
The Bank of the Lao PDR uses market exchange rate mechanisms managed by the State using daily reference exchange rates to enable commercial banks and currency exchange shops to determine their exchange rates.
Transfer of Money, and Movement of Cash Currency Into and Out of the Lao PDR
Article 13 Transfer of Foreign Currency
Persons domiciled and not domiciled in the Lao PDR may transfer foreign currency into the Lao PDR in unlimited amounts. The transfer of foreign currency out of the Lao PDR shall be performed in accordance with relevant regulations and in compliance with Article 10 of this Law.
Article 14 Movement of Cash Currency Into, and Out of the Lao PDR
Persons domiciled and not domiciled in the Lao PDR may bring cash currencies into the Lao PDR in the amounts determined by the Bank of the Lao PDR. Excesses of such amounts shall be declared to border customs officers for the issue of certification.
Persons domiciled and not domiciled in the Lao PDR may take cash currency out of the Lao PDR in the amounts determined by the Bank of the Lao PDR. Excesses of such amounts shall be authorized by the Bank of the Lao PDR. In the event that import certification evidencing currency import into the Lao PDR, such may be presented to border customs officers in order to take such currency out of the Lao PDR.
Opening Bank Accounts and the Use of Money in Savings Accounts
Article 15 Opening Bank Accounts and the Use of Money in Savings Accounts in the Lao PDR
Persons domiciled and not domiciled in the Lao PDR may open savings accounts, make withdrawals and receive interest in foreign currencies with a commercial bank in the Lao PDR.
Persons not domiciled in the Lao PDR who posses foreign currencies may open Kip savings accounts by exchanging foreign currencies at a commercial bank and may make withdrawals and receive interest and exchange Kip in such accounts into foreign currencies.
Article 16 Opening Bank Accounts Abroad
Persons domiciled in the Lao PDR may open accounts abroad with the authorization of the Bank of the Lao PDR for the following objectives :
Students, diplomats and civil servants assigned to work abroad may open bank accounts abroad without the authorization of the Bank of the Lao PDR.
Article 17 Management of Foreign Currency Revenues
Persons domiciled in the Lao PDR who operate businesses with foreign entities which generates foreign currency revenues shall transfer the revenues into their bank account opened with a commercial bank located in the Lao PDR.
All foreign currency budget revenues shall be deposited with the Bank of the Lao PDR, where such is to be used domestically, such foreign currency shall be sold to the Bank of the Lao PDR at the exchange rates of the Bank of the Lao PDR announced daily.
Operation of Foreign Currency Businesses
Article 18 Foreign Currency Businesses
Foreign currency businesses include currency exchange business, gold import-export used as a tool to make international payments.
Article 19 Authorization to Operate Foreign Currency Businesses
Individuals or legal entities that wish to operate foreign currency businesses shall submit an application and accompanying foreign currency business operation application documents to the Industry and Commerce Sector and be authorized by the Bank of the Lao PDR pursuant to regulations.
The conditions for applications to operate foreign currency business shall be provided in separate regulations.
Article 20 Consideration of Foreign Currency Business Applications
Upon receipt of the application and business operation application documents by the Industry and Commerce Sector, the Bank of the Lao PDR will study and consider [the application] within 15 business days for currency exchange shops, and 30 business days for gold import-export businesses to be used as tools to make international payments applications and supporting documents in full and in accordance with regulations from the date of receipt of the application and application documents.
Taking loans, Grants and the Import into, and the Export of Funds out of the Lao PDR
Chapter 1
Loans and Grants
Article 21 Foreign Loans Taken Out by the Government
The Ministry of Finance is the representative of the Government in signing loan agreements or issuing security documents in taking out foreign loans by the government, and is responsible for managing the monitoring and inspection of the implementation of loan agreements, including the opening of savings accounts by the Government abroad, managing the inspection of the use of loans by the government and notifying the Bank of the Lao PDR of such loans in writing.
Foreign loans taken out by the Government shall be deposited in Ministry of Finance savings accounts or Government project accounts opened with the Bank of the Lao PDR. Such loans may be used to make direct payments abroad or exchanged with the Bank of the Lao PDR to be used to make domestic payments.
Article 22 Management of Grants
The Ministry of Finance is responsible for the centralized management of, and consolidating the value of grants from abroad, including monetary and material non-governmental assistance by international organizations in coordination with the relevant authorities. Monetary grants made in foreign currency shall be deposited into the savings accounts of the Ministry of Finance opened with the Bank of the Lao PDR.
The Ministry of Finance is responsible for the monitoring, inspection and consolidation of grants abroad provided by the Government, legal entities, organizations and social organizations of the Lao PDR.
Article 23 Provision and Receipt of Foreign Loans and Commercial Credit
Prior to providing or receiving foreign loans or commercial credit, persons domiciled in the Lao PDR shall request authorization for such from the Bank of the Lao PDR, whereby such transactions shall be undertaken through the banking system and reported to the Bank of the Lao PDR in relation to loan repayments until all contractual payments have been made.
Import into, and Export of Funds out of the Lao PDR
Article 24 Import of Foreign Investment Capital
Foreign individuals, legal entities and organizations wishing to invest in the Lao PDR shall import their capital into the Lao PDR through the banking system and open a savings account with a commercial bank located in the Lao PDR. The importation of the actual foreign currency and in-kind capital, shall be evidenced by certifying documents and provided to the Bank of the Lao PDR in accordance with regulations.
In-kind capital is the value of materials and equipment purchased by the investor and paid for abroad and imported legally in accordance with the laws of the Lao PDR for use directly in the operation of business. Materials imported through the use of money located in the Lao PDR for payment shall not be deemed in-kind capital. The notification of in-kind capital shall have supporting documents relating to the importation issued by the relevant authorities in accordance with regulations.
In the event that capital is brought in as cash, a certificate shall be provided which was issued by border customs officers along with other relevant supporting documents.
Article 25 Export of Capital for Investment Abroad
Persons domiciled in the Lao PDR who wish to export funds to invest abroad shall be authorized by the Bank of the Lao PDR on the basis of the consent from the relevant authorities.
Foreign Payment Balances
Article 26 Foreign Payment Balances
Foreign payment balances is the exchange of economic activities between persons domiciled in the Lao PDR for and persons not domiciled in the Lao PDR, such as trade, exchange of goods and services, the transfer of grants, the transfer of right of ownership in assets and debts, taking out loans and repayment of loans, the flow of funds between countries at any given time.
Article 27 Consolidation of Statistics and Creation of Foreign Payment Balance Plans
The Bank of the Lao PDR is responsible for the consolidation of statistics and the creation of foreign payment balance plans of the national economic system for macro economy management in cooperation with the relevant sectors.
Persons domiciled and not domiciled in the Lao PDR which generate revenues and expenses in foreign currency shall cooperate with, summarize and report information to the Bank of the Lao PDR.
Prohibitions
Article 28 General Prohibitions
Individuals, legal entities and organizations which operate businesses and undertake transactions in the Lao PDR are prohibited from the following behavior:
Article 29 mProhibitions on Foreign Currency Business Operators
Foreign currency business operators are prohibited from the following behavior:
Article 30 Prohibitions on Officers or civil Servants of the State
Officers or civil servants of the State are prohibited from the following behavior:
Dispute Resolution
Article 31 Forms of Dispute Resolution
Dispute resolution involving foreign currency shall be undertaken in the following forms:
Article 32 Dispute Resolution through Mediation
In the event of a dispute involving foreign currency, including the operation of a foreign currency business, the parties may resolve such dispute through consultation and mediation for mutual benefit.
Article 33 Administrative Resolution
In the event of a dispute involving foreign currency, including the operations of a foreign currency business, which dispute is of an administrative nature which is within the scope of responsibility of the Bank of the Lao PDR and the relevant authorities, the parties may request such relevant sector to consider resolution through legal means.
Article 34 Resolution by the Economic Dispute Resolution Organization
In the event of a dispute involving foreign currency, including the operations of a foreign currency business, the parties are entitled to request that the Economic Dispute Resolution Organization to consider and resolve the dispute through legal means.
Article 35 Resolution by the People’s Court
In the event of a dispute involving foreign currency, including the operations of a foreign currency business, the parties are entitled to submit the case to the People’s Court to consider and resolve the dispute through legal means.
Article 36 International Dispute Resolution
Dispute resolution involving international foreign currency works shall be undertaken in accordance with the laws of the Lao PDR or treaties and conventions to which the Lao PDR is a party.
Management and Inspection of Foreign Currency Activities
Chapter 1
Management of Foreign Currency Activities
Article 37 Foreign Currency Management Organization
The Government of the Lao PDR manages foreign currency activities in a centralized and unified manner nationwide by assigning the Bank of the Lao PDR as directly responsible and as the central [organization] for coordinating with the Ministry of Finance, the Ministry of Industry and Commerce, the Ministry of Planning and Investment and the Ministry of Public Security, other relevant sectors and local authorities.
Article 38 Scope of Rights and Duties of the Bank of the Lao PDR
The Bank of the Lao PDR has scope rights and duties in the management of foreign currency activities as follows:
Article 39 Rights and Duties of other Ministries, Sectors and Local Administration Authorities
Other ministries, sectors and local administration authorities have the following of rights and duties in the management of foreign currency activities:
Inspection of Foreign Currency Management Activities
Article 40 Inspection of Foreign Currency Management Activities
The Foreign Currency Management Activities Inspection Organization is comprised of:
Article 41 Content of Inspection
The inspection of foreign currency management activities involves the following:
Article 42 Forms of Inspection
There are three forms of inspection as follows:
Inspections of foreign currency management activities shall be strictly implemented in accordance with laws and regulations.
In undertaking such inspections, officers have the right to question, and inspect documents relating to the operations of foreign currency businesses where deemed necessary.
Article 43 Rights and Duties of the Foreign Currency Management Activities Inspection Organization
The Foreign Currency Management Activities Inspection Organization has the rights and duties in the inspection of such activities as provided in Article 41 of this Law in cooperation with local administration authorities and concerned officers.
Commercial banks, financial institutions, business units operating foreign currency businesses shall report on their business operations to the Bank of the Lao PDR in accordance with regulations issued periodically.
The Bank of the Lao PDR is responsible for consolidating the results of the implementation of this Law by the ministries, equivalent level organizations and local administration authorities which are to be summarized and reported to the Government periodically.
Incentives for Good Performance and Measures Against Violators
Article 45 Incentives for Good Performance
Individuals, legal entities and organizations which show excellent performance in the implementation of this Law will be commended and receive other incentives in accordance with laws and regulations.
Article 46 Measures Against Violators
Individuals, legal entities and organizations which violate this Law, other relevant laws and regulations relating to the management of foreign currency which bring damages on the State and society shall be subject to measures involving training, discipline, liability for damages or criminally responsible depending on severity.
Individuals, legal entities and organizations which violate this Law other relevant laws and regulations relating to the management of foreign currency in the first instance [and] the violation is of a slight nature will be warned, trained and have the violation recorded in writing undertaken by the relevant organization at the location of the violation.
Article 48 Disciplinary Measures
Officers or civil servants of the State who violate the prohibitions provided in Article 30 of this Law and other relevant laws and regulations which are not of a criminal nature will be punished as follows:
Persons subject to disciplinary action shall return all assets to the organization gained illegally.
Individuals, legal entities and organizations which violate this Law and other laws and regulations relating to the management of foreign currency will be fined by relevant officers on a case by case basis as follows:
Subsequent offences shall be subject to a fine of double the amount of the pervious fine.
Individuals, legal entities and organizations which violate this Law which damages the economic system, finances and currency of the Lao PDR and other individuals will liable for the damages incurred.
Individuals who violate this Law which is of a criminal nature and damages the economy, financial systems and currency of the Lao PDR will be punished in accordance with the Penal Code or other laws that prescribe criminal punishment.
Article 52 Criminal Measures Against Violators who are Repeatedly Fined
Individuals who repeatedly violate this Law will be deemed criminal offenders and will be imprisoned between 6 months to two years and fined between three (3,000,000) Kip to ten (10,000,000) Kip.
Final Provisions
The government of the Lao People’s Democratic Republic is responsible for the implementation of this Law.
This Law is effective from the date that the President of the Lao People’s Democratic Republic issues the Promulgating Decree and 15 days after publication in the Government Gazette.
Provisions and regulations which contravene this Law are hereby repealed.
President of the National Assembly
[signature and seal]
Pany YATHOTOU
Name | Description | Status |
---|---|---|
Prohibition on manipulating excahnge rates | Individuals, legal entities and organizations which operate a foreign currency businesses in the Lao PDR are prohibited from manipulating exchange rates. | Active |
Prohibition on operating a foreign curency business without autorization | Individuals, legal entities and organizations cannot operate a foreign currency businesses in the Lao PDR without authorization | Active |
Prohibition on operating foreign currency business contrary to laws and scope of authorization of Lao PDR | Foreign currency business operators are prohibited from operating a foreign currency business contrary to law and the scope of authorization. | Active |
Requirement for authorization to Operate Foreign Currency Businesses | Individuals or legal entities that wish to operate foreign currency businesses shall submit an application and accompanying foreign currency business operation application documents for authorization by the Bank of the Lao PDR pursuant to regulations. | Active |
Requirement for Export of Capital for Investment Abroad | Persons domiciled in the Lao PDR who wish to export funds to invest abroad can do it only if by the Bank of the Lao PDR on the basis of the consent from the relevant authorities. | Active |
Requirement for Import of Foreign Investment Capital | Foreign individuals, legal entities and organizations wishing to invest in the Lao PDR shall import their capital through the banking system by opening a savings account with a commercial bank located in the Lao PDR. | Active |
Requirement for managing Foreign Currency Revenues | Domiciled persons who operate businesses with foreign entities which generate foreign currency revenues shall transfer the revenues into their bank account opened with a commercial bank located in the Lao PDR. | Active |
Requirement for moving cash currency | Cash currencies can be brought into the Lao PDR in the amounts determined by the Bank of the Lao PDR, and the excess shall be declared to border customs officers for the issue of certification. | Active |
Requirement for opening bank accounts abroad | Persons domiciled in the Lao PDR may open accounts abroad with the authorization of the Bank of the Lao PDR for the prescribed objectives. | Active |
Requirement for place at which currency can be exchanged | The exchange of currency into another currency shall only be done at a commercial bank or currency exchange shop authorized by the Bank of the Lao PDR. | Active |
Requirement for providing and receiving Foreign Loans and Commercial Credit | Prior to providing or receiving foreign loans or commercial credit, domiciled persons shall request authorization for such from the Bank of the Lao PDR. | Active |
Requirement for reporting | Commercial banks, financial institutions, business units operating foreign currency businesses shall report on their business operations to the Bank of the Lao PDR | Active |
Requirement for use of foreign currency within the Lao PDR | Businesses operating in the Lao PDR may use foreign currency for the objectives prescribed by law, which include paying for goods imported from abroad and repaying foreign loans and other commercial credit, but shall use the kip except otherwise authorised by Government. | Active |