Privacy & Policy
(From right) Mr Lim Wai Hoong, Mrs Kingphongeun Phoummasack, Mr Sonxay Sitphaxay, Mr Soulisack Thamnouvong and Mr Nanthalath Keopaseuth cut a ribbon to launch the mobile application fund transfer system between BCEL and BIC in Vientiane.
One of our AIF GROUP’s Business Units, the Bank for Investment and Commerce (BIC) collaborated with The Banque pour le Commerce Exterieur Lao Public (BCEL) to introduce the very first real time money transfer system using a mobile phone application in Lao P.D.R.
The launching of this mobile application provides customers with very convenient and fast service regarding money transfer service between both banks. The official ceremony of the mobile application fund transfer between BCEL and BIC took place last week in Vientiane at Lao Plaza, attended by the Governor of the Bank of the Lao PDR, Mr Sonxay Sitphaxay; Director of the Payment Systems Department of the Bank of the Lao PDR, Mr Soulisack Thamnouvong; Deputy Managing Director, Mr Nanthalath Keopaseuth; BIC CEO Mr Lim Wai Hoong; and Asia International Finance (AIF) Group CEO and Chairman of BIC Bank, Mrs Kingphongeun Phoummasack, along with guests and executives of both banks.
BIC has been in operations in Laos since 2008 under the name of International Commercial Bank, Malaysia. In 2015, the government approved AIF Group and Electricite Du Laos (EDL) tohold stakes in the bank where AIF Group holds 70% and EDL 30%. The bank changed its name to BIC in late 2017.
The main objective of this cooperation between BIC and BCEL is to develop a real time money transfer that facilitates the customers of both banks to transfer money between the two banks at their time of convenience and at their fingertips. The launching of this product enables BIC customers to use the “BIC Best” Apps to transfer their USD, THB or KIP to BCEL Accounts, and vice versa – BCEL customers can use BCEL One Apps to transfer funds into any BIC accounts.
This partnership is a crucial step of both banks in developing new methods of fund transfer models to meet customer needs and to provide greater banking solutions. This offers customers a more efficient alternative to perform fund transfer and methods of accessing their banks to meet their banking needs and services.
Website Visitors
Like most website operators, BIC Bank collects non-personally-identifying information of the sort that web browsers and servers typically make available, such as the browser type, language preference, referring site, and the date and time of each visitor request. BIC Bank’s purpose in collecting non-personally identifying information is to better understand how BIC Bank’s visitors use its website.
Like most website operators, BIC Bank collects non-personally-identifying information of the sort that web browsers and servers typically make available, such as the browser type, language preference, referring site, and the date and time of each visitor request. BIC Bank’s purpose in collecting non-personally identifying information is to better understand how BIC Bank’s visitors use its website.
Gathering of Personally-Identifying Information
Certain visitors to BIC Bank’s websites choose to interact with BIC Bank in ways that require BIC Bank to gather personally-identifying information. The amount and type of information that BIC Bank gathers depends on the nature of the interaction. For example, we ask visitors who sign up for an account at https://www.bicbank.com.kh to provide a username and email address.
Security
The security of your Personal Information is important to us, but remember that no method of transmission over the Internet, or method of electronic storage is 100% secure. While we strive to use commercially acceptable means to protect your Personal Information, we cannot guarantee its absolute security.
Protection of Certain Personally-Identifying Information
BIC Bank discloses potentially personally-identifying and personally-identifying information only to those of its employees, contractors and affiliated organizations that (i) need to know that information in order to process it on BIC Bank’s behalf or to provide services available at BIC Bank’s website, and (ii) that have agreed not to disclose it to others. BIC Bank will not rent or sell potentially personally-identifying and personally-identifying information to anyone. Other than to its employees, contractors and affiliated organizations, as described above, BIC Bank discloses potentially personally-identifying and personally-identifying information only in response to a subpoena, court order or other governmental request, or when BIC Bank believes in good faith that disclosure is reasonably necessary to protect the property or rights of BIC Bank, third parties or the public at large.
If you are a registered user of https://www.bicbank.com.kh and have supplied your email address, BIC Bank may occasionally send you an email to tell you about new features, solicit your feedback, or just keep you up to date with what’s going on with BIC Bank and our products. We primarily use our blog to communicate this type of information, so we expect to keep this type of email to a minimum. If you send us a request (for example via a support email or via one of our feedback mechanisms), we reserve the right to publish it in order to help us clarify or respond to your request or to help us support other users. BIC Bank takes all measures reasonably necessary to protect against the unauthorized access, use, alteration or destruction of potentially personally-identifying and personally-identifying information.
Aggregated Statistics
BIC Bank may collect statistics about the behavior of visitors to its website. BIC Bank may display this information publicly or provide it to others. However, BIC Bank does not disclose your personally-identifying information.
Privacy Policy Changes
Although most changes are likely to be minor, BIC Bank may change its Privacy Policy from time to time, and in BIC Bank’s sole discretion. BIC Bank encourages visitors to frequently check this page for any changes to its Privacy Policy. Your continued use of this site after any change in this Privacy Policy will constitute your acceptance of such change.