It might not be a bad rumor it probably wake up some if you look into seriously. Phongsavanh bank isn't a bank he run the bank as a another business. of using your money and take on high risk investment. what did he know about running the bank how he generate the income and pay all depositor interest.
Laos are not well regulated so much of loofhole no one know what phongsavanh did with your money, no insurance to covered if he want people to believed he should inject his own money into the bank and proove them wrong.
He might have the number in paper but not hard cash, look at US and the rest of financial instutes so much experience but still fail.
I totally agreed with you, the top management team in and out from this organization only the rookie one left to run the bank what do they know about invest your money in the tough time like this, invest in bond with central bank only pay out 3-4 %, each month they overhead and expense estimate around $500,000 USD they taking Peter money to pay Paul sooner or later that will drain out. Will wait to see
Proof them wrong..........Show the public your financial statement, showing you still have the money left and showing insurance certificate, I don't believed they have insurance to covered depositor
“It is the policy of the Lao government and the Bank of the Lao PDR to keep a close eye on the performance of commercial banks. It is the role and duty of the central bank to supervise and stabilise financial institutions in Laos. Accordingly, the central bank cannot allow a commercial bank to fail and go bankrup the central bank would not allow any commercial bank to fail as this would destabilise other financial institutions. Phongsavanh Bank said customers withdrew about US$11 million out of a total of about US$80 million deposited at the bank.
It might not be a bad rumor it probably wake up some if you look into seriously. Phongsavanh bank isn't a bank he run the bank as a another business. of using your money and take on high risk investment. what did he know about running the bank how he generate the income and pay all depositor interest.
Laos are not well regulated so much of loofhole no one know what phongsavanh did with your money, no insurance to covered if he want people to believed he should inject his own money into the bank and proove them wrong.
He might have the number in paper but not hard cash, look at US and the rest of financial instutes so much experience but still fail.
