The Bank of the Lao has launched the Financial Institution Reporting System (FIRS), a new reporting platform intended to modernise how financial information is received from commercial banks across the system. FIRS is presented as an upgrade from the existing management information system (MIS), with an emphasis on more secure and efficient data submission and handling. The system is designed to automatically collect, store and consolidate financial data and other related information from commercial banks to support supervisory work, including monitoring, inspection and analysis and assessment of bank risk. The launch event brought together the central bank’s leadership, the Lao Bankers Association, commercial banks, foreign bank branches, and the team responsible for developing FIRS. The Bank of the Lao also positioned FIRS as a milestone towards developing a centralised data warehouse and future “big data” capabilities.
Bank of the Lao 2025-12-17
Bank of the Lao launches the Financial Institution Reporting System to automate commercial bank regulatory reporting
The Bank of the Lao has launched the Financial Institution Reporting System (FIRS) to modernize data collection from commercial banks, enhancing security and efficiency. FIRS aims to support supervisory functions by automating data collection and consolidation. It is also seen as a step towards a centralized data warehouse and future big data capabilities.