The Bhutan Development Bank has launched a new initiative to bring banking services closer to the people in remote areas. Named “BDB Zhabtog”, the initiative was launched yesterday in Trashigang, coinciding with the bank’s 38th Foundation Day. Under the programme, the bank will provide basic banking services through trained local agents, reducing the need for people to travel long distances to bank offices.
So far, the bank has identified 16 banking agents across 11 districts. The agents were selected based on population, location, and closure of some field offices.
Through agency banking, agents can facilitate cash deposits, withdrawals, loan repayments, and other selected transactions.
We have two gewogs, Gomdar and Wangphu. People from these areas have to travel around 72 kilometres to Samdrup Jongkhar to access banking services. Now, with the bank agents, we will no longer need to travel there, which will reduce travel and lodging expenses,” said Tshewang Dema, Bank Agent, Gomdar Gewog, Samdrup Jongkhar.
“Customers who come to avail basic banking services such as deposits, loan repayment and withdrawals do not have to pay any fees. It is just like visiting their bank office, and I hope this service will greatly benefit the people in rural areas,” said Chador Tenzin, Bank Agent, Bartsham Gewog, Trashigang.
The agents will be paid on a commission basis.
Meanwhile, bank officials have urged customers to remain cautious, particularly when handling passwords and one-time passwords.
“Our agent banking transactions security is based on OTPs, or one-time passwords. Just like a house lock, no matter how strong it is, security depends on protecting the key. In the same way, it is very important to keep your OTP secret. If you do not share or show your OTP, there is no risk while using our agent banking service,” said Lopzang Dhendup, General Manager, Corporate and Finance Division, BDBL.
BDB officials said the agency banking is being rolled out carefully and responsibly. The bank plans to review the project after six months and expand service to other locations if found required.
Sonam Darjay, Trashigang
Edited by Yeshi Gyaltshen
