Lao Bullion Bank. - Photo: Vientiane Times/ANN
VIENTIANE (Xinhua): The Lao Bullion Bank has officially opened, offering gold-based financial services in Laos, according to the bank.
The bank will also support efforts to raise the standards of Lao industry to international levels, add value to resources to secure the greatest value and benefits, and help create economic stability so that Laos can achieve prosperity and develop in a secure, sustainable and orderly manner, according to the bank's report on Friday.
The bank is ready to offer a wide range of products and services that are easily accessible to the Lao people.
These include gold deposit accounts, gold credit and gold deposit certificates, which can be used as collateral.
Speaking at the opening ceremony on Tuesday, acting governor of the Lao central bank Vathana Dalaloy said that the Lao Bullion Bank will be an integral part of Laos' monetary and fiscal management system, contributing to the stability of the country's financial system and overall socio-economic development.
She pledged that the bank's services will be efficient and transparent, and that it will grow strongly to support Laos' all-round development. - Xinhua
