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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]
Public finance is backed by the Consolidated Fund, while the monetary system is the purview of the Central Bank. [6] [nb 1] Prior to the establishment of the RMA in 1982, functions relating to central banking were conducted principally by three agencies viz., the Ministry of Finance, State Trading Corporation of Bhutan and Bank of Bhutan.
Events during the year 2024 in Bhutan. Incumbents. Photo Post Name King of Bhutan: Jigme Khesar Namgyel Wangchuck: Prime Minister of Bhutan: Tshering Tobgay: Events
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.
He was the governor of the central bank, Royal Monetary Authority of Bhutan (RMA), from 18 August 2010 [3] to August 2015. [4] The Central Bank Act in Bhutan was amended in 2010 so that the Minister of Finance of Bhutan was no longer also the governor of the central bank. Daw Tenzin was RMA's first central bank governor who did not hold the ...
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.
The following is a list of banks based and operating in Bhutan. Bank of Bhutan [1] Bhutan National Bank; ... This page was last edited on 27 June 2024, at 09:45 (UTC).
Bhutan ranked 26th out of the 180 countries listed in Transparency International’s 2023 Corruption Perceptions Index, where the country ranked first is perceived to have the most honest public sector. It has consistently scored a rating of 68 out of 100 since 2018, on a scale from 0 ("highly corrupt") to 100 ("very clean").