Bank of Bhutan goes modern

Bhutan’s oldest bank celebrates 41, launches Internet services

Peaceful Buddhist monastery in the isolated Himalayan kingdom of Bhutan

[Alas, Bhutan, the last Himalayan Buddhist kingdom, is rushing into the modern-age risking its pristine environment, Yeti population, and famous national "Gross Domestic Happiness."]

(May, 29 2009) — Bhutan’s oldest bank, Bank of Bhutan, launched Internet banking. This is the latest service along with SMS (short message service). Finance minister Lyonpo Wangdi Norbu formally launched the services during the bank’s 41st foundation day celebration in Thimphu.

The minister, in his address, said that the launch of the banking services was timely and in line with the government’s policies of bringing reforms in the financial sector to make it more efficient.

He added that competition for saving deposits will further increase with the government soon to introduce the system of treasury bills for monetary requirements. “I’m confident that BoB’s young and dynamic new management, which came into place a year ago, will deal with it comfortably,” said Lyonpo. More>>