Banking (Banks Detail)

 Banking And Financial System in Bhutan 

The Royal Monetary Authority (RMA) is the country's Central bank.
Royal Monetary Authority (RMA)
POB 154, Thimpu.
Phone: 22540, 
Fax: 22847

Apart from Bhutan's central Bank- the Royal Monetary Authority the country's main financial sector institutions are :

  
The Bank of Bhutan (BOB):

It is the only commercial bank in the country.  A part from its main office in Phuntsholing, it has 23 branch bank in dxongkhags throughout the country.  About 22,000 accounts are maintained by BOB.  In the past it has also managed Government's accounts but this has been transferred to the RMA. The majority of BOB's shares are held by the Royal Government, with the remainder (25%) held by the State Bank of India, with which BOB has an institutional relationship.

Bank of Bhutan 
P.O. Box No. 75
Phuentsholing : Bhutan
Tel: 00975-5-2128, 2268
Fax: 00975-5-2641
Tlx: 09890-304 BANK PLG BT

(From India)
0890-304 BANK PLG BT

(From other countries)
Attn: Managing Director

Activity:

Banking, Financial Loans to traders, industrialists, civil servants and petty business men, and EDP/project appraisal services.

The Royal Insurance Corporation of Bhutan (RICB) :

RICB established on 1975, provides both life and general insurance It is an important institutional investor within Bhutan.  RGOB 
holds a majority of its shares but there are also private sector shareholders.

Royal Insurance Corp. of Bhutan 
P.O. Box No.77
Pheuntsholling: BHUTAN
Tel: 00975-5-2368/2509
Tlx: 09890 305 RICB PLG BT
Fax: 00975-2-23677 (Thimphu)
Attn: Executive Director
Activity: 
Insurance (Property & Life) Provides Loans & Advances
for the rade and Industrial sector, Manages Government Provident 
Fund etc.
 

The government Employees Provident fund (REPF) :

REPF is managed on RGOB's behalf by the RICB and represents a growing portfolio of investments based on matching contributions by civil servants and the Government.
 

The Unit Trust of Bhutan (UTB) :   

UTB was set up by the GEPF and the RICB in 1980 to encourage investment by Bhutanese within the domestic economy.

Unit Trust of Bhutan
P.O. Box No. 439
Thimphu: Bhutan
Tel: 00975-2-22767/23602
Fax: 00975-2-23601
Attn: Managing Director
Activity:
Mobilization of small/household savings and financial loans Advances to trade & Industry Sector, etc.
 

The Bhutan Development Finance Corporation (BDFC) :

BDFC was established in 1988 to act as the Development Financial institution for small and medium scale industrial and agricultural producers. The Corporation manages the donor funded agricultural.