Over 5,000 armed force personnel and their spouses from across the country signed up for the Bhutan Development Bank Corporation’s (BDBL) Drinchen Ama Saving Scheme yesterday.
The BDBL introduced the scheme to the armed forces as part of its one-day nationwide sensitization on financial literacy. “In urban areas, most of the people are educated and understand what financial literacy is,” CEO Phub Dorji said.
“In the armed forces, though, there seem to be a lack of knowledge and experience in handling savings and taking loans. So,
we chose to educate and sensitize the wives of our soldiers on how to save and take loans.”
Pema Yangden, one of Drinchen Ama Saving Scheme account holders, said the scheme allows her to save in small amounts. “In the long run, it would benefit our children, parents and relatives.”
Geley Jamtsho, another account holder, said he wouldn’t have signed up for the scheme if the bank had not come to him today. “Firstly, I hardly get time to visit banks to explore the products they offer,” he said.
“Secondly, even if I go, it’s hard to find my way around and figure out who to approach for advice and which scheme to choose.”
The scheme collects money on a monthly basis. The clients are paid an interest rate of 6.5 per cent.
Since it was launched in 2014, the scheme has grown steadily, attracting over 12,000 people across the country.
