Wednesday 7 October BOL Establishment Day in Lao
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Wednesday 7 October BOL Establishment Day in Lao
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The provided text outlines the historical background of the Bank of Lao, which functions as the nation's central financial institution. October 7th was officially chosen as the banking sector's founding anniversary to commemorate the initial printing of the liberated Laotian Kip in 1968. This significant monetary event occurred under the guidance of the Lao People's Revolutionary Party inside a hidden cave located within the Viengxai district of Hauphanh province. Later on, following the formal formation of the Lao People's Democratic Republic in 1975, the institution consolidated with the former national bank. Through this merger, the organization successfully established its current role as the central bank for the entire country.
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