Bank of Bhutan Limited (BOBL) launched three types of credit cards in the capital today. The BOBL VISA International Gold Card has credit worthiness up to US$ 3,000. The card can be used in countries other than India, Bhutan and Nepal.
The other two variants will serve to carry out transactions in domestic market, including India and Nepal. The BOBL VISA Domestic Gold Card has credit worth of Nu. 1, 50,000 and the BOBL VISA Domestic Silver Card has the credit worth of Nu.60,000.
The total amount of credit will depend on the income and other assets available to back the credit.
According to the officials of the bank, the credit card facility will reduce cash transactions and increase the life of notes.
The Bank of Bhutan’s Deputy Chief Executive Officer, Pema N. Nadik, said with the VISA credit card, funds will be available to the clients and the transaction undertaken with it will be transparent.
The launch of the credit cards was a culmination of the executive order issued by the Prime Minister of Bhutan in November 2009.
