The Bank of Laos (BOL) has unveiled a new five-year plan (2026–2030) aimed at strengthening the national financial system and ensuring long-term monetary stability.
During the bank’s Fifth Party Congress held on 26 October at the Banking Institute Conference Hall in Vientiane, Bounkham Vorachit, Secretary of the Party Committee and Governor of the Bank of Laos, outlined the strategic direction under the theme:
“Strengthen Party leadership to ensure monetary stability, develop a resilient financial system, and modernize financial services for inclusive growth.”
According to the governor, the new plan will focus on enhancing financial management, strengthening leadership and accountability, and promoting digital banking innovations to improve efficiency and inclusion.
The plan builds on the bank’s previous five-year strategies centered on financial stability and modernization, responding to recent challenges that underscore the need for stronger oversight and transparency.
SUBHED: Banking Sector Corruption Highlights Need for Reform
The importance of these reforms has become even more evident in light of recent issues within the banking sector. Persistent governance gaps and corruption cases have tested public trust and highlighted the urgency of strengthening oversight across financial institutions.
In 2024, widespread corruption within Laos’ banking sector led to losses of nearly LAK 1.6 billion (approximately USD 74,000), with only LAK 137.43 million (about USD 6,300) recovered, according to the Bank of Laos.
The bank reported 21 corruption cases last year, including two within BOL, three at Nayoby Bank, and one at BCEL, with the remainder linked to ongoing investigations at the Agricultural Promotion Bank and Nayoby Bank.
A total of 167 individuals faced disciplinary action, including 11 BOL staff, while three officials were suspended pending further inquiry.
SUBHED: Expanding Digital and Cross-Border Connectivity
Against this backdrop, the Bank of Laos is also accelerating its modernization agenda. By embracing digital transformation and cross-border connectivity, the bank aims to create a more transparent and efficient financial system that supports economic growth and regional integration.
As part of its modernization drive, Laos has expanded cross-border QR code payment systems with Thailand, Cambodia, Vietnam, South Korea, and China, allowing seamless cashless transactions for tourists and businesses. This initiative aims to boost regional financial integration and support digital economic growth.
Delegates at the congress also discussed measures to make the banking sector more resilient, efficient, and capable of supporting national economic development.
Deputy Prime Minister Saleumxay Kommasith, who attended the congress, praised the achievements of the outgoing leadership and urged the new committee to continue building a stable, modern, and transparent financial system that underpins sustainable growth.
Following party procedures, delegates elected the Fifth Party Executive Committee, comprising 17 members, including five in the Standing Committee.
Bounkham Vorachit was re-elected as Secretary, Vathana Dalaloy as Deputy Secretary, and Aloun Bounyong as Chair of the Party Inspection Committee.


