VIENTIANE: Representatives from more than 50 non-bank financial institutions gathered in Vientiane to reimagine the future of finance in Laos, amid growing efforts to modernise the country’s financial landscape.
The landmark meeting was convened at the Supattra Hotel in Vientiane, where discussions were led by Lao Bullion Bank, whose bold vision and innovative gold-backed financial products are forging new paths towards stability, inclusion and economic resilience.
The meeting, titled “Dissemination of Lao Bullion Bank’s Operations and Services,” was chaired by the Director General of the Non-Bank Financial Institution Supervision Department under the Bank of the Lao PDR (BOL), Visone Saysongkham.
With over 120 participants in attendance, including the Chairman of the Executive Board of the Lao Microfinance Association, members of the Lao Microfinance Association, its leadership, and management from Lao Bullion Bank, the gathering reflected a strong collective interest in building bridges between the banking and non-bank sectors.
The meeting served not only as a platform for knowledge-sharing but as a catalyst for meaningful partnerships.
Lao Bullion Bank outlined its achievements since its establishment, with a particular focus on its flagship innovation, the ‘Official Gold Status Certificate,’ endorsed by the Ministry of Finance.
This certificate is backed by gold sourced from the public and deposited with the bank. More than a store of value, it functions as a powerful financial instrument, allowing customers to use it as collateral for loans.
This gold-backed solution has already begun to reshape access to capital. By enabling individuals and businesses to unlock liquidity through trusted assets, the ‘Official Gold Status Certificate’ offers a safer, faste, and more community-focused approach to lending.
It empowers financial institutions, especially microfinance providers rooted in local communities, to serve their clients more efficiently while minimising risk and expanding outreach.
Significantly, this initiative is about more than just gold. It represents a step towards a more inclusive and diversified financial ecosystem in Laos, one where non-bank institutions play a vital role in deepening financial access, especially in underserved areas.
As part of future plans, the Lao Microfinance Association will hold further discussions with interested institutions to pursue formal cooperation with Lao Bullion Bank.
Plans are underway to finalise these agreements by the end of next month, with a public announcement to follow. These forthcoming partnerships aim to support the continued evolution of a financial system that is not only more modern but also more equitable.
In the words shared by many at the meeting, this collaboration marks not the end, but the beginning, of a financial journey that is grounded in trust, innovation, and a desire for shared prosperity for all. - Vientiane Times/ANN
