Bhutan National Bank is a commercial bank founded in 1997 and located in Thimphu , capital of the Kingdom of Bhutan .
71-475: Bhutan National Bank Limited started operations as Unit Trust of Bhutan (UTB) on 25 July 1980, with an initial funding of Nu. 2.5 million by Royal Insurance Corporation of Bhutan [1] . The trust functioned as a subsidiary of RICB, with its purpose set to inculcate saving habits among the general public and to channel resources into productive sectors. On 1st January 1992, the Royal Government conferred
142-556: A census in southern Bhutan to guard against illegal immigration, a constant issue in the south where borders with India are porous. Each family was required to present census workers with a tax receipt from the year 1958—no earlier, no later—or with a certificate of origin, which had to be obtained from one's place of birth, to prove that they were indeed Bhutanese citizens. Previously issued citizenship cards were no longer accepted as proof of citizenship. Alarmed by these measures, many began to protest for civil and cultural rights and demanded
213-457: A code of traditional Drukpa dress and etiquette called Driglam Namzhag . The dress element of this code required all citizens to wear the gho (a knee-length robe for men) and the kira (an ankle-length dress for women). A central plank of the Bhutanese government's policy since the late 1960s has been to modernise the use of Dzongkha language. This began with abandoning the use of Hindi ,
284-451: A forest cover of 64% as of October 2005. Bhutan's climate varies with elevation, from subtropical in the south to temperate in the highlands and polar-type climate with year-round snow in the north. Bhutan experiences five distinct seasons: summer, monsoon , autumn, winter and spring. Western Bhutan has the heavier monsoon rains; southern Bhutan has hot humid summers and cool winters; central and eastern Bhutan are temperate and drier than
355-505: A global biodiversity hotspot and counted among the 234 globally outstanding ecoregions of the world in a comprehensive analysis of global biodiversity undertaken by WWF between 1995 and 1997. According to the Swiss-based International Union for Conservation of Nature , Bhutan is viewed as a model for proactive conservation initiatives. The Kingdom has received international acclaim for its commitment to
426-488: A government in Bumthang at Chakhar Gutho Palace. Much of early Bhutanese history is unclear because most of the records were destroyed when fire ravaged the ancient capital, Punakha , in 1827. By the 10th century, Bhutan's religious history had a significant impact on its political development. Various subsects of Buddhism emerged that were patronized by the various Mongol warlords. Bhutan may have been influenced by
497-452: A language that was adopted to help start formal secular education in the country, in 1964. As a result, at the beginning of the school year in March 1990, the teaching of Nepali language (which share similarities with Hindi) spoken by ethnic Lhotshampas in southern Bhutan was discontinued and all Nepali curricular materials were discontinued from Bhutanese schools. In 1988, Bhutan conducted
568-512: A more democratic form of governance. In 1965, he set up a Royal Advisory Council, and in 1968 he formed a Cabinet. In 1971, Bhutan was admitted to the United Nations , having held observer status for three years. In July 1972, Jigme Singye Wangchuck ascended to the throne at the age of sixteen after the death of his father, Dorji Wangchuck. Bhutan's sixth Five-Year Plan (1987–92) included a policy of 'one nation, one people' and introduced
639-692: A network of swift rivers that form deep valleys before draining into the Indian plains. In fact, 98.8% of Bhutan is covered by mountains, which makes it the most mountainous country in the world. Elevation rises from 200 m (660 ft) in the southern foothills to more than 7,000 m (23,000 ft). This great geographical diversity combined with equally diverse climate conditions contributes to Bhutan's outstanding range of biodiversity and ecosystems. Bhutan's northern region consists of an arc of Eastern Himalayan alpine shrub and meadows reaching up to glaciated mountain peaks with an extremely cold climate at
710-585: A number of progressive environmental policies that have caused the head of the UNFCCC to call it an "inspiration and role model for the world on how economies and different countries can address climate change while at the same time improving the life of the citizen." For example, electric cars have been pushed in the country and as of 2014 make up a tenth of all cars. Because the country gets most of its energy from hydroelectric power , it does not emit significant greenhouse gases for energy production. In practice,
781-806: A sparse population of migratory shepherds. The Black Mountains in Bhutan's central region form a watershed between two major river systems: the Mo Chhu and the Drangme Chhu. Peaks in the Black Mountains range between 1,500 and 4,925 m (4,921 and 16,158 ft) above sea level, and fast-flowing rivers have carved out deep gorges in the lower mountain areas. The forests of the central Bhutan mountains consist of Eastern Himalayan subalpine conifer forests in higher elevations and Eastern Himalayan broadleaf forests in lower elevations. The Woodlands of
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#1732772175188852-583: A telescope, and offered him their services in the war against Tibet, but the Zhabdrung declined the offer. After a stay of nearly eight months Cacella wrote a long letter from the Chagri Monastery reporting on his travels. This is a rare extant report of the Zhabdrung. When Ngawang Namgyal died in 1651, his passing was kept secret for 54 years. After a period of consolidation, Bhutan lapsed into internal conflict. In 1711, Bhutan went to war against
923-404: A total change to be brought to the political system that existed since 1907. As protests and related violence swept across southern Bhutan, the government in turn increased its resistance. People present at protests were labeled "anti-national terrorists". After the demonstrations, the Bhutanese army and police began the task of identifying participants and supporters engaged in the violence against
994-627: A two-dose shot of AstraZeneca vaccines. On 13 December 2023, Bhutan was officially delisted as a least developed country . Bhutan is on the southern slopes of the eastern Himalayas , landlocked between the Tibet Autonomous Region of China to the north and the Indian states of Sikkim , West Bengal , Assam to the west and south, and the Indian state of Arunachal Pradesh to the east. It lies between latitudes 26°N and 29°N , and longitudes 88°E and 93°E . The land consists mostly of steep and high mountains crisscrossed by
1065-600: Is Jigme Khesar Namgyel Wangchuck . The current Prime Minister of Bhutan is Tshering Tobgay , leader of the People's Democratic Party . Bhutan's democratic transition in 2008 is seen as an evolution of its social contract with the monarchy since 1907. In 2019, Bhutan was classified in the Democracy Index as a hybrid regime alongside regional neighbours Nepal and Bangladesh . Minorities have been increasingly represented in Bhutan's government since 2008, including in
1136-515: Is Bhutan's highest peak and is the highest unclimbed mountain in the world. The wildlife of Bhutan is notable for its diversity, including the Himalayan takin and golden langur . The capital and largest city is Thimphu , with close to 15% of the population. Bhutan and neighbouring Tibet experienced the spread of Buddhism , which originated in the Indian subcontinent during the lifetime of
1207-523: Is a constitutional monarchy with a Druk Gyalpo (king) as the head of state and a prime minister as the head of government . The Je Khenpo is the head of the state religion , Vajrayana Buddhism. The subalpine Himalayan mountains in the north rise from the country's lush subtropical plains in the south. In the Bhutanese Himalayas , there are peaks higher than 7,000 metres (23,000 ft) above sea level . Gangkhar Puensum
1278-440: Is around 71% of the total land area, equivalent to 2,725,080 hectares (ha) of forest in 2020, up from 2,506,720 hectares (ha) in 1990. In 2020, naturally regenerating forest covered 2,704,260 hectares (ha) and planted forest covered 20,820 hectares (ha). Of the naturally regenerating forest 15% was reported to be primary forest (consisting of native tree species with no clearly visible indications of human activity) and around 41% of
1349-410: Is connected to one another through a vast network of biological corridors, allowing animals to migrate freely throughout the country. Environmental conservation has been placed at the core of the nation's development strategy, the middle path. It is not treated as a sector but rather as a set of concerns that must be mainstreamed in Bhutan's overall approach to development planning and to be buttressed by
1420-488: The Ophiocordyceps sinensis fungus crop collected from the wild has also resulted in unsustainable exploitation which is proving very difficult to regulate. Bhutan has enforced a plastic ban rule from 1 April 2019, where plastic bags were replaced by alternative bags made of jute and other biodegradable material. Bhutan is a constitutional monarchy with a parliamentary form of government. The reigning monarch
1491-978: The Global Peace Index as the most peaceful country in South Asia as of 2024, as well as the only South Asian country in the list's first quartile. Bhutan is also a member of the Climate Vulnerable Forum , the Non-Aligned Movement , BIMSTEC , the IMF , the World Bank , UNESCO and the World Health Organization (WHO). Bhutan ranked first in SAARC in economic freedom , ease of doing business , peace and lack of corruption in 2016. Bhutan has one of
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#17327721751881562-724: The Himalayan black bear , red panda , squirrel , sambar , wild pig and barking deer . The alpine habitats of the great Himalayan range in the north are home to the snow leopard , blue sheep , Himalayan marmot , Tibetan wolf , antelope , Himalayan musk deer and the Bhutan takin , Bhutan's national animal . The endangered wild water buffalo occurs in southern Bhutan, although in small numbers. More than 770 species of bird have been recorded in Bhutan. The globally endangered white-winged duck has been added recently in 2006 to Bhutan's bird list. The 2010 BBC documentary Lost Land of
1633-618: The Indian military , Bhutan maintains its own military units . The 2008 Constitution established a parliamentary government with an elected National Assembly and a National Council . Bhutan is a founding member of the South Asian Association for Regional Cooperation (SAARC). In 2020, Bhutan ranked third in South Asia after Sri Lanka and the Maldives in the Human Development Index , and 21st on
1704-588: The Kingdom of Bhutan , is a landlocked country in South Asia situated in the Eastern Himalayas between China in the north and India in the south, with the Indian state of Sikkim separating it from neighbouring Nepal . With a population of over 727,145 and a territory of 38,394 square kilometres (14,824 sq mi), Bhutan ranks 133rd in land area and 160th in population. Bhutan
1775-648: The Raja of the kingdom of Koch Bihar in the south. During the chaos that followed, the Tibetans unsuccessfully attacked Bhutan in 1714. In the 18th century, the Bhutanese invaded and occupied the kingdom of Koch Bihar. In 1772, the Maharaja of Koch Bihar appealed to the British East India Company which assisted by ousting the Bhutanese and later attacking Bhutan itself in 1774. A peace treaty
1846-523: The Yuan dynasty with which it shares various cultural and religious similarities. After the decline of the Yuan dynasty in the 14th century, these subsects vied with each other for supremacy in the political and religious landscape, eventually leading to the ascendancy of the Drukpa Lineage by the 16th century. Locally, Bhutan has been known by many names. The earliest Western record of Bhutan,
1917-460: The golden langur . A variant Assamese macaque has also been recorded, which is regarded by some authorities as a new species, Macaca munzala . The Bengal tiger , clouded leopard , hispid hare and the sloth bear live in the tropical lowland and hardwood forests in the south. In the temperate zone, grey langur , tiger, goral and serow are found in mixed conifer, broadleaf and pine forests. Fruit-bearing trees and bamboo provide habitat for
1988-595: The war reparations , the Duars were ceded to the United Kingdom in exchange for a rent of ₹50,000 . The treaty ended all hostilities between British India and Bhutan. During the 1870s, power struggles between the rival valleys of Paro and Tongsa led to civil war in Bhutan, eventually leading to the ascendancy of Ugyen Wangchuck , the penlop (governor) of Trongsa . From his power base in central Bhutan, Ugyen Wangchuck defeated his political enemies and united
2059-698: The 1627 Relação of the Portuguese Jesuits Estêvão Cacella and João Cabral , records its name variously as Cambirasi (among the Koch Biharis ), Potente , and Mon (an endonym for southern Tibet). Until the early 17th century, Bhutan existed as a patchwork of minor warring fiefdoms , when the area was unified by the Tibetan lama and military leader Ngawang Namgyal , who had fled religious persecution in Tibet. To defend
2130-657: The Bhutan Financial Switch (BFS), which was inaugurated by the Prime Minister of Bhutan in 2011, followed by the very well received Piggy Bank Accounts for children aged 6 -18 in 2012. Later in the same year, the bank also launched B-Wallet services. In 2013, the bank upgraded its IT systems to Oracle 12; it was further upgraded to Oracle 14.x in 2024. The bank launched its mobile banking app in 2016, and later upgraded it in 2018, making it faster, better, and adding more services. In 2019, BNB became to
2201-471: The Bhutanese endonym Drukpa , "Dragon people," are similarly derived. Names similar to Bhutan—including Bohtan, Buhtan, Bottanthis, Bottan and Bottanter—began to appear in Europe around the 1580s. Jean-Baptiste Tavernier 's 1676 Six Voyages is the first to record the name Boutan . However, these names seem to have referred not to modern Bhutan but to the Kingdom of Tibet . The modern distinction between
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2272-590: The Buddha . In the first millennium, the Vajrayana school of Buddhism spread to Bhutan from the southern Pala Empire of Bengal. During the 16th century, Ngawang Namgyal unified the valleys of Bhutan into a single state. Namgyal defeated three Tibetan invasions, subjugated rival religious schools, codified the Tsa Yig legal system, and established a government of theocratic and civil administrators. Namgyal became
2343-745: The Customer Experience Department, and Mr. Dorji, who looks after the Corporate Services Department. At the helm of the Bank is the bank's Board of Directors, currently chaired by Dasho Karma Tshiteem, nominee of the National Pension and Provident Fund, which holds about 25% of the bank's shares. Prior to Sonam Tobgay, Mr. Kipchu Tshering was the CEO of the bank for 22 years, having been appointed to
2414-584: The Himalayan foothills, have rugged, sloping terrain and dry, porous soil with dense vegetation and abundant wildlife. The southern Duars have moderately fertile soil, heavy savanna grass, dense, mixed jungle, and freshwater springs. Mountain rivers, fed by melting snow or monsoon rains, empty into the Brahmaputra River in India. Data released by the Ministry of Agriculture showed that the country had
2485-603: The Tiger follows an expedition to Bhutan. The expedition is notable for claiming to obtain the first footage of tigers living at 4,000 metres (13,000 ft) in the high Himalayas. The BBC footage shows a female tiger lactating and scent-marking, followed a few days later by a male tiger responding, suggesting that the cats could be breeding at this elevation. Camera traps also recorded footage of other rarely seen forest creatures, including dhole (or Indian wild dog), Asian elephants, leopards and leopard cats. In Bhutan forest cover
2556-488: The Trust with the status of an independent financial institution. In its first year, the Trust declared a profit of mere Nu. 9,618.86. UTB was subsequently converted into a commercial bank with technical assistance from Asian Development Bank in 1995. The first IPO of BNB was offered to the public in 1996, which made the bank the only financial institution with public ownership, with a significant portion of its ownership with
2627-454: The bank in January 1997, the paid up capital of the bank was Nu. 59.5 million and a net worth of Nu. 139 million. BNB was the pioneer when it came into being in 1996, having started with a computerized banking environment; the initial software adopted by the bank was called Micro Banker. At the time the only other bank, Bank of Bhutan [2] was providing banking services manually. Micro Banker
2698-476: The bank rebranded itself, aligning with its upgraded core banking system. BNB is the first bank in Bhutan to obtain ISO 27701:2019 certification. It is also PCI: DSS and ISO 9001 & 27001 certified since 2019. To provide financial choice through innovation To gain regional recognition by being #1 in all the services the bank provides, and the work culture it follows. BNB's values help guide it in not just making
2769-514: The central region provide most of Bhutan's forest production. The Torsa , Raidāk , Sankosh , and Manas are Bhutan's main rivers, flowing through this region. Most of the population lives in the central highlands. In the south, the Sivalik Hills are covered with dense Himalayan subtropical broadleaf forests , alluvial lowland river valleys, and mountains up to around 1,500 m (4,900 ft) above sea level. The foothills descend into
2840-526: The ceremony. The British government promptly recognized the new monarchy. In 1910, Bhutan signed the Treaty of Punakha , a subsidiary alliance that gave the British control of Bhutan's foreign affairs and meant that Bhutan was treated as an Indian princely state . This had little real effect, given Bhutan's historical reticence, and also did not appear to affect Bhutan's traditional relations with Tibet. After
2911-589: The country against intermittent Tibetan forays, Namgyal built a network of impregnable dzongs or fortresses, and promulgated the Tsa Yig , a code of law that helped to bring local lords under centralised control. Many such dzong still exist and are active centres of religion and district administration. Portuguese Jesuits Estêvão Cacella and João Cabral were the first recorded Europeans to visit Bhutan in 1627, on their way to Tibet. They met Zhabdrung Ngawang Namgyal, presented him with firearms, gunpowder and
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2982-491: The country following several civil wars and rebellions during 1882–85. In 1907, an epochal year for the country, Ugyen Wangchuck was unanimously chosen as the hereditary king of the country by the Lhengye Tshog of leading Buddhist monks, government officials, and heads of important families, with the firm petition made by Gongzim Ugyen Dorji . John Claude White , British Political Agent in Bhutan, took photographs of
3053-635: The distinction between it and Greater Tibet . The first time a separate Kingdom of Bhutan appeared on a western map, it did so under its local name "Broukpa". Others include Lho Mon ("Dark Southland"), Lho Tsendenjong ("Southland of the Cypress "), Lhomen Khazhi ("Southland of the Four Approaches") and Lho Menjong ("Southland of the Herbs "). Stone tools, weapons, elephants, and remnants of large stone structures provide evidence that Bhutan
3124-654: The first Zhabdrung Rinpoche and his successors acted as the spiritual leaders of Bhutan, like the Dalai Lama in Tibet. During the 17th century, Bhutan controlled large parts of northeast India , Sikkim and Nepal ; it also wielded significant influence in Cooch Behar State . Bhutan ceded the Bengal Duars to British India during the Duar War in the 19th century. The Wangchuck dynasty emerged as
3195-725: The first bank to issue RuPay debit cards in Bhutan; in the same year it became a primary member of the VISA card network. BNB currently issues RuPay debit cards, and VISA debit and credit cards. Currently, BNBL is the second largest bank in Bhutan by asset size, and provides all kinds of banking services, including Trade Finance, CASA accounts, Loans, Remittances, Mobile and Internet Banking, POS-based Agency Banking via its "Ngotshab" service, Cards, and wallet service, MyPay. It also has tie-ups with international money transfer services MoneyGram and Ria, to facilitate remittances. The bank also launched its own remittance platform BNB Remit in 2023. In 2024
3266-616: The force of law. The country's constitution mentions environmental standards in multiple sections. Although Bhutan's natural heritage is still largely intact, the government has said that it cannot be taken for granted and that conservation of the natural environment must be considered one of the challenges that will need to be addressed in the years ahead. Nearly 56.3% of all Bhutanese are involved with agriculture, forestry or conservation. The government aims to promote conservation as part of its plan to target Gross National Happiness. It currently has net negative greenhouse gas emissions because
3337-528: The forest area was found within protected areas. For the year 2015, 100% of the forest area was reported to be under public ownership . More than 5,400 species of plants are found in Bhutan, including Pedicularis cacuminidenta . Fungi form a key part of Bhutanese ecosystems, with mycorrhizal species providing forest trees with mineral nutrients necessary for growth, and with wood decay and litter decomposing species playing an important role in natural recycling. The Eastern Himalayas has been identified as
3408-490: The highest elevations. Most peaks in the north are over 7,000 m (23,000 ft) above sea level; the highest point is 7,570-metre (24,840 ft)-tall Gangkhar Puensum , which has the distinction of being the highest unclimbed mountain in the world. The lowest point, at 98 m (322 ft), is in the valley of Drangme Chhu , where the river crosses the border with India. Watered by snow-fed rivers, alpine valleys in this region provide pasture for livestock, tended by
3479-530: The largest water reserves for hydropower in the world. Melting glaciers caused by climate change are a growing concern in Bhutan. The precise etymology of "Bhutan" is unknown, although it is likely to derive from the Tibetan endonym "Böd" for Tibet . Traditionally, it is taken to be a transcription of the Sanskrit Bhoṭa-anta ( भोट-अन्त ) "end of Tibet ", a reference to Bhutan's position as
3550-473: The last countries to introduce television. In his speech, the King said that television was a critical step to the modernisation of Bhutan as well as a major contributor to the country's gross national happiness , but warned that the "misuse" of this new technology could erode traditional Bhutanese values. A new constitution was presented in early 2005. In December 2005, Wangchuck announced that he would abdicate
3621-400: The maintenance of its biodiversity. This is reflected in the decision to maintain at least sixty per cent of the land area under forest cover, to designate more than 40% of its territory as national parks, reserves and other protected areas, and most recently to identify a further nine per cent of land area as biodiversity corridors linking the protected areas. All of Bhutan's protected land
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#17327721751883692-627: The majority of the Lhotshampa refugees. Bhutan's political system has recently changed from an absolute monarchy to a constitutional monarchy . King Jigme Singye Wangchuck transferred most of his administrative powers to the Council of Cabinet Ministers and allowed for impeachment of the King by a two-thirds majority of the National Assembly. In 1999, the government lifted a ban on television and internet, making Bhutan one of
3763-447: The monarchy and pursued closer ties with Britain in the subcontinent. In 1910, a treaty guaranteed British advice in foreign policy in exchange for internal autonomy in Bhutan. The arrangement continued under a new treaty with India in 1949 (signed at Darjeeling) in which both countries recognised each other's sovereignty. Bhutan joined the United Nations in 1971. It has since expanded relations with 55 countries. While dependent on
3834-516: The new Union of India gained independence from the United Kingdom on 15 August 1947, Bhutan became one of the first countries to recognise India's independence. On 8 August 1949, a treaty similar to that of 1910, in which Britain had gained power over Bhutan's foreign relations, was signed with the newly independent India. In 1953, King Jigme Dorji Wangchuck established the country's legislature—a 130-member National Assembly —to promote
3905-467: The overlap of these extensive protected lands with populated areas has led to mutual habitat encroachment. Protected wildlife has entered agricultural areas, trampling crops and killing livestock. In response, Bhutan has implemented an insurance scheme, begun constructing solar powered alarm fences, watch towers, and search lights, and has provided fodder and salt licks outside human settlement areas to encourage animals to stay away. The huge market value of
3976-497: The position in June 1997, when the bank was just 6-months old. He is credited with stirring up the competitive landscape in banking in Bhutan, and bringing in revolutionary changes of the time. The main events include: This article about Bhutan is a stub . You can help Misplaced Pages by expanding it . This Asian bank-related article is a stub . You can help Misplaced Pages by expanding it . Bhutan Bhutan , officially
4047-469: The profitable choice, but also the right choice. To underline the importance of the bank's customers, its values add up to the acronym DELIGHT. D- Discipline In practice, thought and action E- Entrepreneurship Through idea, meritocracy, recognition and empowerment L- Learning by improving continuously and failing well I- Integrity Through fairness and transparency in its actions G- Grit Through passion and resilience in adversity H- Humility In
4118-453: The public (28.58%) . In 1997, Government divested its equity of 40% to ADB and Citibank. These two organizations have since divested their shares to the employees of the bank and the bhutanese public; currently International Finance Corporation (IFC) [ https://www.ifc.org/ is the only foreign entity with shares in BNB- it owns about 11% of the bank's shares. At the time of the start of operations of
4189-517: The small amount of pollution it creates is absorbed by the forests that cover most of the country. While the entire country collectively produces 2,200,000 metric tons (2,200,000 long tons; 2,400,000 short tons) of carbon dioxide a year, the immense forest covering 72% of the country acts as a carbon sink , absorbing more than four million tons of carbon dioxide every year. Bhutan had a 2018 Forest Landscape Integrity Index mean score of 8.85/10, ranking it 16th globally out of 172 countries. Bhutan has
4260-639: The southern extremity of the Tibetan plateau and culture. Since the 17th century, Bhutan's official name has been Druk yul (literally, "country of the Drukpa Lineage " or "the Land of the Thunder Dragon," a reference to the country's dominant Buddhist sect); "Bhutan" appears only in English-language official correspondence. The terms for the Kings of Bhutan, Druk Gyalpo ("Dragon King"), and
4331-407: The state and people. They were arrested and held for months without trial. Soon the Bhutanese government arbitrarily reported that its census operations had detected the presence in southern Bhutan of over 100,000 "illegal immigrants" although this number is often debated. The census operations, thus, were used as a tool for the identification, eviction and banishment of dissidents who were involved in
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#17327721751884402-490: The subtropical Duars Plain, which is the eponymous gateway to strategic mountain passes (also known as dwars or dooars; literally, "doors" in Assamese , Bengali , Maithili , Bhojpuri , and Magahi languages). Most of the Duars is in India, but a 10 to 15 km (6.2 to 9.3 mi)-wide strip extends into Bhutan. The Bhutan Duars is divided into two parts, the northern and southern Duars. The northern Duars, which abut
4473-561: The throne in his son's favour in 2008. On 9 December 2006, he announced that he would abdicate immediately. This was followed by the first national parliamentary elections in December 2007 and March 2008 . On 6 November 2008, 28-year-old Jigme Khesar Namgyel Wangchuck was crowned king. In July 2021 during the COVID-19 pandemic , Bhutan became the first world-leading nation in its role of vaccinating 470,000 out of 770,000 people with
4544-719: The two did not begin until well into the Scottish explorer George Bogle 's 1774 expedition. Realising the differences between the two regions, cultures, and states, his final report to the East India Company formally proposed calling the Druk Desi 's kingdom "Boutan" and the Panchen Lama 's kingdom "Tibet". The EIC's surveyor general James Rennell first anglicised the French name as "Bootan," and then popularised
4615-440: The uprising against the state. Military and other security forces were deployed for forceful deportations of between 80,000 and 100,000 Lhotshampas and were accused of using widespread violence, torture, rape and killing. The evicted Lhotshampas became refugees in camps in southern Nepal. Since 2008, many Western countries, such as Canada, Norway, the United Kingdom, Australia, and the United States, have allowed resettlement of
4686-436: The way it interacts and delivers service T- Teamwork Through individual respect underpinned by a united purpose. To be the leading digital bank in Bhutan Bhutan National Bank is currently headed by Mr Sonam Tobgay, Chief Executive Officer, who has been the CEO of the Bank since September 2019. He is assisted by a team of three Directors: Mr. Hem Kumar Acharya, who heads Banking Operations; Mr. Dorji Namgyel Rinchen, who heads
4757-417: The west with warm summers and cool winters. Bhutan signed the Rio Convention on Biological Diversity on 11 June 1992, and became a party to the convention on 25 August 1995. It has subsequently produced a National Biodiversity Strategy and Action Plan , with two revisions, the most recent of which was received by the convention on 4 February 2010. Bhutan has a rich primate life, with rare species such as
4828-468: Was first introduced to Bhutan in the 7th century AD. The Tibetan king Songtsen Gampo (reigned 627–649), a Buddhist convert, extended the Tibetan Empire into Sikkim and Bhutan. He ordered the construction of two Buddhist temples, Bumthang in central Bhutan and Kyichu (near Paro ) in the Paro Valley . Buddhism was propagated in earnest in 746 under King Sindhu Rāja ( also Künjom; Sendha Gyab; Chakhar Gyalpo), an exiled Indian king who had established
4899-541: Was inhabited as early as 2000 BC, although there are no existing records from that time. Historians have theorised that the state of Lhomon ( lit. ' southern darkness ' ), or Monyul ("Dark Land", a reference to the Monpa , an ethnic group in Bhutan and Arunachal Pradesh , India), may have existed between 500 BC and AD 600. The names Lhomon Tsendenjong ( Sandalwood Country) and Lhomon Khashi , or Southern Mon (country of four approaches), have been found in ancient Bhutanese and Tibetan chronicles. Buddhism
4970-408: Was signed in which Bhutan agreed to retreat to its pre-1730 borders. However, the peace was tenuous, and border skirmishes with the British were to continue for the next hundred years. The skirmishes eventually led to the Duar War (1864–65), a confrontation to control of the Bengal Duars . After Bhutan lost the war, the Treaty of Sinchula was signed between British India and Bhutan. As part of
5041-619: Was upgraded to iFlex Solutions' (now owned by Oracle) Flexcube in January 2003. BNB was also the first bank in the country to launch the ATM services in 2004. Following the launch of ATM services, the bank also introduced Point of Sale (POS) terminals in 2007 and in 2008, upgraded its banking software from Flexcube 4.5 to Flexcube Corporate 7.3. In order to provide better and faster services to clients, SMS and Internet Banking were launched in 2009. On 12th April 2011, BNB launched Recurring Deposit and Rupee Denominated Prepaid card in partnership with Axis Bank, India. (since discontinued). The bank joined
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