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Legal Document
Title: Decision On Collateral No. 752/BOL, dated 30 November 2007
Type: Decision
Responsible Agency: Bank of the Lao PDR
Issuing Date: 2007-11-30
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Lao People’s Democratic Republic

Peace Independence Democracy Unity Prosperity

Bank of Lao PDR   No. 752/BOL
  Vientiane Capital, date 30 November 2007

                                                                                          

Decision

On Collateral

  • Pursuant to the Law on Bank of the Lao PDR No.05/NA, dared 14 October 1999;
  • Pursuant to the Law on Commercial Bank No. 03/NA, dated 26 December 2006;
  • Pursuant to the Consensus of the Technical Meeting on Solutions for current Issues Encountered by Banks dated 29 November 2007.

The Governor of the Bank of the Lao PDR Decided:

Article 1: To terminate issuance of credit of less than 90% collateral. Regarding consideration for credit approval of commercial banks in the future, is mainly based on the project efficiency with the discretion of commercial banks on collateral. If the project has efficiency even without adequate collateral, banks can issue credit.

Article 2: Headquarters of commercial banks shall acknowledge and accurately implement.

Article 3: Permanent Office, Department of the Management of Commercial Banks and Microfinance Institutions, commercial banks shall acknowledge and strictly implement this Decision.

Article 4: Effectiveness

            Any Decisions, Guidelines and regulations that are conflict with this Decision shall be cancelled. This Decision is effective from the date of signature.  

                                                                               

       Minister of Industry and Commerce

(Signature and Seal)

Phouphet KHAMPHOUNVONG



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