New Laos Association of Saving & Credit Unions
After considerable work and with funding support from the AMF, the new Laos Association of Savings and Credit Unions (LASCU) held its first public conference along with its first election of the founding board of directors during July in Vientiane, Laos PDR. The event was hosted by the German Cooperative and Raiffeisen Confederation (DGRV) in collaboration with the Bank of Laos PDR (BOL) and the Asian Confederation of Credit Unions (ACCU). The conference was attended by 56 SCU leaders, government representatives and development partners.
The Deputy Director of Financial Institution and Supervision Department, Bank of Laos, Mr. Wilaimit Akawong emphasised that Savings and Credit Unions and its leaders are playing a vital role in achieving the government’s policy on poverty alleviation and community development.
The newly elected Board has a mandate to expand membership and prepare the registration documents to be submitted to the Ministry of Interior. It is anticipated that that registration will be completed by end of the year.