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BoB CEO Pema Nadik launches the logo
BoB CEO Pema Nadik launches the logo

BoB prepares to celebrate its 50th anniversary

Marking its 50th anniversary, Bank of Bhutan, the oldest bank in the country, will hold a year-long celebration starting January 2018 to initiate sustainable and meaningful activities to benefit the mass involving employees, clients, and the community.

A logo to mark the event was launched yesterday followed by a press conference.

BoB’s chief executive officer, Pema Nadik, said that activities planned are inclusive.

He said that the significance of the day would be marked with seriousness where clients and staff will be involved.

Pema Nadik said that in the last five decades, Core Banking Solutions (CBS) was a milestone in integrating the entire banking services on one platform. “Looking at the achievement of the bank, it is the achievement of our country. We cannot separate the two. Whatever the country has achieved in the last 50 years, BoB has been part to it.”

However, Pema Nadik said that corrupt practices are inevitable in financial institutions.  “But banking sector has evolved; its system and process is adequate enough. From hundreds, there would be four or five rotten apples. BoB has no tolerance policy.”

BoB was established in 1968, which was also given the mandate to function as the country’s central bank. In 1982, Royal Monetary Authority of Bhutan (RMA) was established and the BoB handed over the responsibility of the central bank to RMA.

BoB has formed a planning committee to take the golden jubilee celebration activities forward with the theme Embracing Happiness, which will involve activities centred on trust, environment, modernisation and technology, inclusive growth, employees, employment, and entrepreneurship.

The celebration will continue until May 2019.

Tshering Dorji

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