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- Banking_in_Bhutan abstract "Banking in Bhutan is a fledgling industry that has grown slowly as the country has pursued modernization. Since its establishment in 1982, the Royal Monetary Authority, headquartered in Thimphu, has served as the central bank of Bhutan. The authority is responsible for issuing currency, implementing monetary policy, coordinating financial institution activities, and holding the government's foreign exchange earnings. Among its initial duties was the administration of financial assistance for rural development, a duty later delegated to the Bhutan Development Finance Corporation when it was founded in 1988.The Bank of Bhutan, the nation's commercial bank, was established in 1968 as a joint venture with the Chartered Bank of India, Australia and China, which owned 25 percent of the bank. In 1970 this share was transferred to the State Bank of India. Since its establishment, the Bank of Bhutan's board of directors has been composed of key officials from the economic ministries and departments and two officials from the Indian banks. The bank was restructured in 1971. To ensure that it would have sufficient funds at its disposal, government departments were required to deposit all of their accounts with the government-run bank until 1982, when the Royal Monetary Authority was established. Since 1982 the Bank of Bhutan has served as the retail banking agent for the Royal Monetary Authority. The bank's principal office is in Phuntsholing; in 1991 there were twenty-six branch offices throughout the country. The Bank of Bhutan has been able to give relatively large loans for capital programs such as irrigation projects in Bhutan's south-central region. Among its retail banking activities is the issuance of rupee-denomination traveler's cheques, which began in 1974.The Bhutan Development Finance Corporation, upon its establishment in 1988, took over the administration of rural financial assistance from the Royal Monetary Authority. Loans were granted for improving farmland, acquiring livestock, and meeting short-term, seasonal requirements. At least some of the funding for the corporation came from the Asian Development Bank, including an initial US$2.5 million loan in 1988 for the expansion of small- and medium-sized, private-sector industrial development. By 1991 the corporation had been privatized.Non-bank financial institutions also were set up as part of the economic modernization process. Insurance was offered by the Royal Insurance Corporation of Bhutan, which was established in 1975 with its headquarters in Phuntsholing. Starting in 1980, individuals could invest their savings in the newly established Unit Trust of Bhutan. The trust, with its main office in Phuntsholing, channels invested funds, for which it issues shares called units, into industrial and commercial development. The Government Employees' Provident Fund, established in 1986, the Bhutan Development Finance Corporation, and other non-bank institutions are small and constrained by the rudimentary use of money in the economy.".
- Banking_in_Bhutan wikiPageID "18974629".
- Banking_in_Bhutan wikiPageLength "3877".
- Banking_in_Bhutan wikiPageOutDegree "37".
- Banking_in_Bhutan wikiPageRevisionID "572021107".
- Banking_in_Bhutan wikiPageWikiLink Arable_land.
- Banking_in_Bhutan wikiPageWikiLink Asian_Development_Bank.
- Banking_in_Bhutan wikiPageWikiLink Bhutan.
- Banking_in_Bhutan wikiPageWikiLink Bhutan_Development_Finance_Corporation.
- Banking_in_Bhutan wikiPageWikiLink Bhutanese_ngultrum.
- Banking_in_Bhutan wikiPageWikiLink Board_of_directors.
- Banking_in_Bhutan wikiPageWikiLink Category:Banking_by_country.
- Banking_in_Bhutan wikiPageWikiLink Category:Economy_of_Bhutan.
- Banking_in_Bhutan wikiPageWikiLink Central_bank.
- Banking_in_Bhutan wikiPageWikiLink Chartered_Bank_of_India,_Australia_and_China.
- Banking_in_Bhutan wikiPageWikiLink Commercial_bank.
- Banking_in_Bhutan wikiPageWikiLink Foreign_exchange_market.
- Banking_in_Bhutan wikiPageWikiLink Government_Employees_Provident_Fund.
- Banking_in_Bhutan wikiPageWikiLink Indian_rupee.
- Banking_in_Bhutan wikiPageWikiLink Insurance.
- Banking_in_Bhutan wikiPageWikiLink Irrigation.
- Banking_in_Bhutan wikiPageWikiLink Joint_venture.
- Banking_in_Bhutan wikiPageWikiLink Livestock.
- Banking_in_Bhutan wikiPageWikiLink Loan.
- Banking_in_Bhutan wikiPageWikiLink Modernization_theory.
- Banking_in_Bhutan wikiPageWikiLink Monetary_policy.
- Banking_in_Bhutan wikiPageWikiLink Money.
- Banking_in_Bhutan wikiPageWikiLink Non-bank_financial_institution.
- Banking_in_Bhutan wikiPageWikiLink Phuntsholing.
- Banking_in_Bhutan wikiPageWikiLink Politics_of_Bhutan.
- Banking_in_Bhutan wikiPageWikiLink Privatization.
- Banking_in_Bhutan wikiPageWikiLink Retail_banking.
- Banking_in_Bhutan wikiPageWikiLink Royal_Insurance_Corporation_of_Bhutan.
- Banking_in_Bhutan wikiPageWikiLink Royal_Monetary_Authority.
- Banking_in_Bhutan wikiPageWikiLink Royal_Monetary_Authority_of_Bhutan.
- Banking_in_Bhutan wikiPageWikiLink Rural_area.
- Banking_in_Bhutan wikiPageWikiLink Share_(finance).
- Banking_in_Bhutan wikiPageWikiLink State_Bank_of_India.
- Banking_in_Bhutan wikiPageWikiLink Thimphu.
- Banking_in_Bhutan wikiPageWikiLink Travelers_cheque.
- Banking_in_Bhutan wikiPageWikiLink Unit_Trust_of_Bhutan.
- Banking_in_Bhutan wikiPageWikiLink United_States_dollar.
- Banking_in_Bhutan wikiPageWikiLinkText "Banking in Bhutan".
- Banking_in_Bhutan wikiPageUsesTemplate Template:Asia_topic.
- Banking_in_Bhutan wikiPageUsesTemplate Template:Multiple_issues.
- Banking_in_Bhutan wikiPageUsesTemplate Template:Onesource.
- Banking_in_Bhutan wikiPageUsesTemplate Template:Reflist.
- Banking_in_Bhutan wikiPageUsesTemplate Template:Update.
- Banking_in_Bhutan subject Category:Banking_by_country.
- Banking_in_Bhutan subject Category:Economy_of_Bhutan.
- Banking_in_Bhutan hypernym Industry.
- Banking_in_Bhutan type Company.
- Banking_in_Bhutan type Economy.
- Banking_in_Bhutan type Redirect.
- Banking_in_Bhutan comment "Banking in Bhutan is a fledgling industry that has grown slowly as the country has pursued modernization. Since its establishment in 1982, the Royal Monetary Authority, headquartered in Thimphu, has served as the central bank of Bhutan. The authority is responsible for issuing currency, implementing monetary policy, coordinating financial institution activities, and holding the government's foreign exchange earnings.".
- Banking_in_Bhutan label "Banking in Bhutan".
- Banking_in_Bhutan sameAs Q4856335.
- Banking_in_Bhutan sameAs Q4856335.
- Banking_in_Bhutan wasDerivedFrom Banking_in_Bhutan?oldid=572021107.
- Banking_in_Bhutan isPrimaryTopicOf Banking_in_Bhutan.