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Bhutan remained isolated from the world until it had trouble controlling its monetary system, so the Central Bank of Bhutan was established. Bhutan's commercial bank, Bank of Bhutan, was established on 28 May 1968 [4] as a joint venture with the Chartered Bank of India, Australia and China, which owned 25% of the bank.
The following is a list of banks based and operating in Bhutan. Bank of Bhutan [1] Bhutan National Bank; Royal Monetary Authority of Bhutan; Druk PNB Bank; No Full form (T Bank) Bhutan Development Bank; Druk Kidu Digital Bank
Bank of Bhutan (BoB) is the largest and oldest commercial bank in Bhutan. It was established under the provision of the royal charter of May 1968. [5] It was also the only central bank before the Royal Monetary Authority of Bhutan in 1982. It is registered under the Companies Act of Bhutan, 2000 as a public sector commercial bank. [6]
The Bank of Bhutan which handled all commercial banking business in Bhutan also extended credit to the Government; financed other Government organizations against Government guarantees, and was the conduit through which Ngultrum notes and coins were issued to the public.
Bhutan National Bank is currently headed by Mr Sonam Tobgay, Chief Executive Officer, who has been the CEO of the Bank since September 2019. He is assisted by a team of three Directors: Mr. Hem Kumar Acharya, who heads Banking Operations; Mr. Dorji Namgyel Rinchen, who heads the Customer Experience Department, and Mr. Dorji, who looks after the Corporate Services Department.
It is also listed on the Royal Securities Exchange of Bhutan. [ 1 ] As of December 31, 2014, the bank's paid-up capital amounted to Nu 449.712 million, with ownership distributed among Punjab National Bank (51%), Bhutanese promoters (19%), and the general public (30%).
Bank of Bhutan; Bhutan National Bank; D. Druk PNB Bank; R. Royal Monetary Authority of Bhutan This page was last edited on 18 January 2020, at 21:23 (UTC). Text ...
Location of Bhutan. Bhutan is a landlocked country and the second largest Himalayan state in Asia. Located in the Eastern Himalayas, it is bordered by China in the north and India in the south. Bhutan is separated from Nepal by the Indian state of Sikkim and from Bangladesh by the Indian states of West Bengal and Assam.