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
Name | Description | Status |
---|---|---|
Currency exchange operators are prohibited to operate business outside the licensed premises | Currency 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 from conducting currency trading contrary to BOL | Currency 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 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 rate | 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 providing their own enterprise registration certificates to someone else | Currency exchange operators are prohibited from providing their own enterprise registration certificates to someone else for any reason. | 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 PDR | Currency 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 using the expired enterprise registration certificate; | Currency exchange operators are prohibited from using the expired enterprise registration certificate; | Active |
prohibited from using their personal or any other bank account to conduct currency trading | Currency 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 |
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 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 to operate business as consultant or agent for currency trading through online | Currency 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 relocate the premises without the approval | Currency exchange operators are prohibited to relocate the premises without the approval | Active |