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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]
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
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.
Bhutan is a constitutional monarchy with a parliamentary form of government. The reigning monarch is Jigme Khesar Namgyel Wangchuck. The current Prime Minister of Bhutan is Tshering Tobgay, leader of the People's Democratic Party. Bhutan's democratic transition in 2008 is seen as an evolution of its social contract with the monarchy since 1907 ...
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 ...
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%). [1]