Banking

Students To Use Identity Cards As BCEL ATM Cards

Students To Use Identity Cards As BCEL ATM Cards

0 by / on 27/04/2013, 3:38 pm / in Banking, Business, Money

Students can now use their identity cards to withdraw money from ATMs thanks to cooperation between Banque pour le Commerce Exterieur Lao Public (BCEL) and the National University of Laos (NUOL). An official ceremony to unveil the new cards was held at the university in Vientiane on Wednesday, presided over by the Deputy Minister of Education and Sports, Associate Prof. Dr Kongsy Sengmany and the Vice Governor of the Bank of the Lao PDR, Mr […]

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Maruhan Japan Bank opens in Laos

Maruhan Japan Bank opens in Laos

1 by / on 18/02/2013, 1:39 pm / in Banking, Business

A ceremony for the opening of the Maruhan Japan Bank Laos was held on Saturday the 16th of February at the bank’s headquarters on 23 Singha Rd and was attended by Lao government officials, diplomats from the Japanese Embassy and the chairman of the bank. Maruhan Japan Bank is the first Japanese commercial bank in Laos and is the newest member […]

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BCEL To Close For Four Days

BCEL To Close For Four Days

0 by / on 29/11/2012, 6:10 pm / in Banking, Business

Banque pour le Commerce Exterieur Lao (BCEL), Vientiane’s largest commercial bank, has announced it will temporarily stop most services from November 30 to December 3. The cessation of services is necessary so that the bank can upgrade its core banking infrastructure and banking software systems. Customers will still be able to use BCEL ATM machines except for a six hour […]

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Lao Banks Agree To Share ATM services

Lao Banks Agree To Share ATM services

0 by / on 27/11/2012, 10:52 pm / in Banking, Business, Money

Representatives of eight leading banks in Laos signed a memorandum of understanding last Friday for the creation of a shared, modernised ATM system. Representatives from BCEL, Lao-Viet Bank, Banque Franco Lao, Lao Development Bank, Agricultural Promotion Bank, ST Bank, and Indochina Bank signed the agreement. The banks will jointly develop and upgrade existing ATMs into a “pool system” that will […]

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Maybank Opens First Branch in Laos

Maybank Opens First Branch in Laos

0 by / on 07/11/2012, 12:53 pm / in Banking, Business

Malaysian Prime Minister Datuk Seri Najib Tun Razak opened the first Maybank Laos branch in Vientiane on Monday, marking the completion of the bank’s footprint in all the ASEAN member countries. He said the event was not only significant for Maybank but also for Malaysia as it reaffirmed the role that Malaysian corporations could play in supporting the growth in neighbouring […]

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Banking on Convenience at BFL Nam Phou

Banking on Convenience at BFL Nam Phou

0 by / on 06/09/2012, 9:35 am / in Banking, Business

BFL (Banque Franco-Lao) opened a new service center at next to Khop Chai Deu restaurant near Nam Phou in July, making it the 6th branch in Vientiane. It is the only branch in the city to remain open late, operating from 8:30am to 8:30pm. It’s also the only branch open 7 days per week, meaning banking is now possible on weekends. […]

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Public Confidence in Laos Kip Rises

Public Confidence in Laos Kip Rises

0 by / on 15/07/2012, 6:48 pm / in Banking, Business, Money

People are more confident about building their savings in Lao kip now that the value of the national currency has been stable for the past few years. According to an annual report from the Bank of the Lao PDR, the value of kip deposits at commercial banks in Laos reached 9,869 billion kip in December 2011, accounting for about 45 […]

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Plus Cards For PetroTrade Petrol Stations in Laos

Plus Cards For PetroTrade Petrol Stations in Laos

0 by / on 11/07/2012, 8:51 am / in Banking, Business, Money

Petroleum Trading Lao Co Ltd (PetroTrade) and Banque pour le Commerce Exterieur Lao Public (BCEL) signed a Memorandum of Understanding in Vientiane on Monday to start a new customer service initiative called the ‘Plus Card’. The MOU was agreed to after the two parties ran a nationwide trial of the Plus Card, an electronic payment card for fuel purchases, at Petroleum Trading Lao Co Ltd’s petrol stations a few months ago. The signing ceremony was attended by […]

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Ask For A Receipt And Be Rewarded

Ask For A Receipt And Be Rewarded

0 by / on 30/06/2012, 3:38 pm / in Banking, Business, Money

Consumers who keep a receipt after making a purchase will be rewarded, Minister of Finance Mr Phouphet Khamphounvong announced this week. Speaking at the Third Ordinary Session of the Seventh Legislature of the National Assembly on Monday, Mr Phouphet said the ministry would attempt to bolster government revenue by encouraging shoppers to ask for receipts. Shoppers would be motivated to do this by knowing that their receipt could […]

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Bank in Yuan at ICBC Bank, Vientiane, Laos

Bank in Yuan at ICBC Bank, Vientiane, Laos

0 by / on 22/06/2012, 4:44 pm / in Banking, Business, Money

Industrial and Commercial Bank of China (ICBC), China’s largest lender by market value, which said Wednesday that its Vientiane branch has been approved as Laos’ sole yuan-clearing bank. The decision, made by the Bank of Lao PDR, indicates that ICBC’s Vientiane branch can openyuan accounts for banks, enterprises and individuals in Laos, and it will be responsible for clearing yuan transactions between Laos and China, according to a statement on the ICBC’swebsite.

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