When the Royal Monetary Authority (RMA) launched RemitBhutan last September, it did so with a target to achieve a deposit of US$ 1M within a year of its opening. But thanks to over 600 non-resident Bhutanese who embraced the remittance platform, the target has been met in just eight months.
So far, 637 foreign currency accounts have been opened with the country’s local banks facilitated through RimitBhutan. Bhutanese living in Australia make up more than half of the foreign currency account holders.
To celebrate the achievement of US$ 1M deposits, a thousand butter lamps were lit at the Kuenrey of the Trashichhodzong today. Prayers were also offered for the well-being and success of non-resident Bhutanese.
RMA’s Governor, Dasho Penjore said the achievement is being celebrated to value and thank the trust and importance Bhutanese living overseas have placed by saving their hard earned money in the country.
“Many youth have gone overseas to work. I am sure many will follow suit. This will bring about huge benefits for the country.”
The Prime Minister and the Finance Minister joined the officials of RMA and banks in lighting the butter lamps. Prime Minister Tshering Tobgay, too, thanked non-resident Bhutanese for embracing the RemitBhutan service.
Lyonchhen added the RemitBhutan platform, which allows Bhutanese living abroad to remit their savings in foreign currency is helping Bhutan increase its foreign currency reserve. This, Lyonchhen said will help the country’s economy a lot.
