A day-long workshop, with the theme “ABA COFITT – Asean Financial Innovation Network (AFIN) and Financial Inclusion through FinTech Innovation”, was co-organised by the Asean Bankers Association (ABA) and the Association of Banks in Singapore in collaboration with the Lao Bankers’ Association.

The Deputy Governor of the central bank, Ms Vatthana Dalaloy, said several surveys conducted by various bodies have shown that access to finance in Laos has significantly improved over the past few years. “ Individually, we couldn’t summarise the figure or indicators of access to finance, but what we know is that the rate of access of finance in Laos remains low, especially when compared to other Asean countries,” she said. She said the main causes for this could be attributed to different sectors in relation to policies, regulations and other measures. “The arrival of advanced technology to be used in the financial system, FinTech, is the new face of a modern platform but human resource development is a priority so that people don’t miss out on job opportunities,” she added.

Image: Coverage for AFIN on Vientiane Time, Laos

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