BOL Recognizes PEARLS as Potential Tool for SCUs Supervision
- Date : Thursday August 27, 2020
- Venue :
In collaboration with the Co-operative federation for German Co-operatives, Deutscher Genossenschafts- und Raiffeisenverband, ACCU facilitated the virtual technical training on PEARLS monitoring system for capacity building and improving monitoring skills for the staffs of Bank of Lao PDR (BOL).
The training was organized during August 24 - 27, 2020 with 27 division managers and officers of Financial Institution Supervision Department of BOL.
During the training, ACCU emphasized the necessity of intensive monitoring system in SCU operation to ensure its safety and soundness. BOL was urged to take extra effort in providing detailed operational guidelines and regulatory framework in ensuring that SCUs in Lao will be able to grow and operate efficiently.
At the present, Financial Institution Supervision Department of BOL is responsible for formulating the regulatory policies, criteria for the supervision and strategy of financial institutions and monitoring systems in order to foster the stability, strength and efficiency of financial institutions such as Banks, MFIs and SCUs. There are now 27 SCUs registered and operated in Lao PDR.