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Legal Document
Title: Decision on Currency Exchange Business No. 393/BoL, dated 02 July 2020
Type: Decision
Responsible Agency: Bank of the Lao PDR
Issuing Date: 2020-07-16
Click here to see the measures contained in this document


This decision defines the regulations and principles for the licensing, operating, managing and monitoring on Currency Exchange Business in order to promote the stability, safety, trustworthiness, and effectiveness on currency exchange; to ensure the business operates legally; and to contribute to the management of foreign currency in Lao PDR effectively





Download Lao:Decision on Currency Exchange Business No. 393/BoL, dated 02 July 2020


List Measures Related to Legal Documents
NameDescriptionStatus
Currency exchange operators are prohibited to operate business outside the licensed premisesCurrency exchange operators are prohibited to operate business outside the licensed premises or providing other services other than those specified in Article 16 under this Decision;

Active
Prohibited to exchange the currencies directly with commercial banks, individuals or legal entities which are located in oversea. Currency exchange operators are prohibited from the direct currency trading with commercial banks, individuals or legal entities which are located in oversea. Active
prohibited from setting, posting, implementing and conducting currency trading at the exchange rate contrary to the regulations set by the Bank of the Lao PDRCurrency exchange operators are prohibited from setting, posting, implementing and conducting currency trading at the exchange rate contrary to the regulations set by the Bank of the Lao PDR from time to time;

Active
prohibited from conducting currency trading contrary to BOLCurrency exchange operators are prohibited from conducting currency trading contrary to the regulations set by the Bank of the Lao PDR from time to time;Active
prohibited from currency trading in excess of its registered limits per day;Currency exchange operators are prohibited from currency trading with the public in excess of its registered limits per day;Active
prohibited from opening its own bank saving account in overseas.Currency exchange operators are prohibited from opening its own bank saving account in overseas.Active
prohibited from using the expired enterprise registration certificate;Currency exchange operators are prohibited from using the expired enterprise registration certificate;Active
prohibited from conducting or involving with any action to cause damage to exchange rate Currency exchange operators are prohibited from conducting or involving with any action to cause damage to exchange rateActive
prohibited to operate business as consultant or agent for currency trading through onlineCurrency exchange operators are prohibited to operate business as consultant or agent for currency trading through online or between countries. Active
prohibited to provide service for selling only or buying only Currency exchange operators are prohibited to provide service for selling only or buying only Active
prohibited to delay the exchange rate announcement and currency trading Currency exchange operators are prohibited to delay the exchange rate announcement and currency trading without the notice to Department of currency policy Active
prohibited to relocate the premises without the approval Currency exchange operators are prohibited to relocate the premises without the approval Active
prohibited from providing their own enterprise registration certificates to someone elseCurrency exchange operators are prohibited from providing their own enterprise registration certificates to someone else for any reason.Active
prohibited from using their personal or any other bank account to conduct currency tradingCurrency exchange operators are prohibited from using their personal or any other bank account to conduct currency trading or to use its business’ bank account to provide service irrespective to currency trading;Active