Bangkok Bank wins Laos' first custodian service licence
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Bangkok Bank has become the first and only bank to be granted a licence to provide full custodian services in Lao PDR. Its complete range of international-standard services include safekeeping, settlements and processing, as well as managing assets for in
BBL also becomes a member of the Lao Securities Exchange (LSX). The bank’s services include safekeeping, settlement and clearing of securities transactions, managing investment assets, providing financial statements, acting as proxy for investors at shareholders’ meetings, and providing tax advice and foreign exchange services.
BBL is honoured that its Vientiane branch has become the first bank in Laos to receive a license from the Lao Securities Commission Office (LSCO) to provide the services, said Chaiyarit Anuchitworawong, executive vice president of the Thai bank.
The licence was awarded after the establishment of a connection with the Lao Securities Exchange and local staff training with support from the head office. The services will be provided to institutional investors who are interested in investing in the LSX and wish to keep their assets safe with a custodian that meets international standards.
The Royal Lao Government wants to develop the country’s capital markets and encourage participation by foreign investors. This will provide more liquidity to the markets and facilitate long-term funding for companies, supporting their development and sustainable expansion of their production facilities and services.
