Policy makers, regulators and private sector representatives from 15 countries have gathered in Thimphu for an international summit that aims to help Bhutan come up with a national financial inclusion strategy.
The three-day International Financial Inclusion Summit began today. With on the theme “Equitable Growth through Financial Inclusion”, it is the first international financial inclusion summit.
International participants will discuss innovative ways to help Bhutan include its population in the country’s financial system. The overall aim is to transform and improve the lives of Bhutanese.
The summit will foster dialogue on how to enhance access to finance with a focus on micro-, small and medium enterprises. It will also address agriculture and digital financial services.
Prime Minister Lyonchhen Dasho Tshering Tobgay, in his keynote address, said financial inclusion is crucial for achieving well-balanced, socio-economic development.
“There are many who are yet to be included in the country’s financial system,” he said. “GNH requires socio-economic growth to be equitable and inclusive.”
Lyonchhen added that unlike the pursuit of unbridled economic growth, GNH requires a policy that is mindful of the country’s environment and culture. It should also be consistent with the principles of good governance, he said.
The Royal Monetary Authority (RMA) and the Royal Institute for Governance and Strategic Studies (RIGSS) are hosting the summit with support from the International Finance Corporation (IFC).
