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Type: Decree
Responsible Agency: Bank of the Lao PDR
Issuing Date: 2012-09-20
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Contents
Lao People’s Democratic Republic
Peace Independence Democracy Unity Prosperity
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Bank of the Lao PDR No. 927/BoL
Vientiane Capital, dated 20 Sep 2012
Decision
on the Membership Fee and Service Charge for Credit Information
- Pursuant to the Law on the Bank of Lao PDR No. 05/NA, dated 14 October 1999;
- Pursuant to the Law on Commercial Bank No. 03/NA, dated 26 December 2006;
- Pursuant to the proposal letter of the Department of Commercial Bank Management, No. 122/DCBM, dated 30/07/2012.
The Governor of the Bank of Lao PDR issues a Decision as follows:
Article 1.Objective
This Decision determines the rules and principles in the collection of the membership fee and service charge for credit information of the Credit Information Center (CIC) to be used as reference by the Commercial Bank and Financial Institution which are the member of the Information Center for the uniformity in the implementation.
Article 2.Membership Fee, Maintenance and Service Charges
2.1 Membership fee
The Commercial Bank and Financial Institution that become a member of the Credit Information Center shall pay a membership fee of 5,000,000 kips (five million kips) within 7 days after being authorized by the Bank of the Lao PDR to become a member.
2.2 Maintenance fee
The member of the Credit Information Center shall pay the annual maintenance fee worth 2,000,000 kips/year (two million kips) to the Bank of the Lao PDR.
2.3 Service charge for credit information
2.3.1 The member of the Credit Information Center shall pay the service charge for credit information as follows:
- The search for the credit information of customer having information in the system, the service to be paid is 50,000 kips (fifty-thousand) per time per customer;
- The search for the credit information of the customer in the system but the customer’s information cannot be found, the service charge to be paid shall be 20,000 kips (twenty thousand kips) per time per customer;
2.3.2 Individuals or legal entities who are not a member of the Credit Information Center, if requiring the credit information of other individuals or legal entities, must pay for the service charges as follows:
- For individual, the payment for service charge must be made in 80,000 kips (eighty thousand kips) per time per person;
- For legal entity, the payment for service charge must be made in 150,000 kips (One hundred fifty thousand kips) per time per person.
Article 3.Payment of Maintenance Fee and Service Charge
3.1 The member of the Credit Information Center shall pay the maintenance fee in a yearly basis no later than the 15th of January of each year by transfer the money into the receiving account of the Bank of the Lao PDR.
3.2 The member of the Credit Information Center shall pay for the service charge in a monthly basis no later than the 5th date of the subsequent month;
In case of the payment period as specified in the Point 3.1 and 3.2 above, the Credit Information Center shall cut the money from the saving account of the member at the Bank of the Lao PDR and shall inform the member in a later time.
Article 4.Implementation
The Credit Information Center of the Bank of the Lao PDR, members of the Information Center and the relevant Departments are assigned to strictly implement this Decision.
Article 5.Effectiveness
This Decision is effective from the date it is signed. All provision, rules concerning the credit information tasks previously promulgated which are in contradiction to this Decision shall be revoke.
Governor of the Bank of the Lao PDR
[Sealed and signed]
Somphao PHAISITH
Download English:Decision on the Membership Fee and Service Charge for Credit Information No. 927/BoL, dated 20 Sep 2012
Download Lao:Decision on the Membership Fee and Service Charge for Credit Information No. 927/BoL, dated 20 Sep 2012
List Measures Related to Legal Documents
| Name | Description | Status |
|---|---|---|
| Membership fee | Commercial banks and financial institutions that become a member of the Credit Information Center must pay the prescribed membership fee, an annual maintenance fee and a service charge for credit information | Active |