LAK

LAK is considered to be a restricted currency, which implies an inherent limitation to the tradability of this currency. Fund transfers in this currency are not allowed outside of Lao People’s Democratic Republic.

Besides this limitation, this currency is considered to be complex (multiple information to be provided and complex processing).

Besides the standard information, the full name (written out in full, without initials, abbreviations or acronyms) and the physical full address of the beneficiary are mandatory.

A clear reason / purpose of payment is mandatory and consists of a full written description (in English) of the nature of payment to be provided in the remittance information. For example: providing an invoice number without guiding text is considered as insufficient and can result in errors or delays.

Example: Payment of travel expenses – invoice n° 123456789

Moreover, the full address (exact branch location) of the beneficiary’s bank is mandatory and to be provided in the remittance information.

Please note that this currency does not support decimals.

To consult the Technical Guidelines of this currency, click here

• Available charge options: OUR/SHA/BEN

• Central bank of Lao People’s Democratic Republic: http://www.bol.gov.la/english/index1.php