Lao Securities issues warning on dubious financing companies
The Lao Securities Commission Office is advising people considering making deposits with financial institutions to make a careful assessment before going ahead. Various financing companies in Laos are encouraging people to deposit with them by offering a higher rate of interest than that provided by banks but despite the glowing promises of financial gain made by such companies, their long-term viability is uncertain, the securities office warned. People who deposit money with those companies run the risk of losing their savings if these businesses go bust, a commission official said. The commission said it will not be responsible for any such problem, even if the financing company in question has legally registered its business operations in Laos.
