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Bank Of Bhutan
Bank of Bhutan (BoB) is the largest and oldest commercial bank in Bhutan. It was established under the provision of the royal charter of May 1968. It was also the only central bank before the Royal Monetary Authority of Bhutan in 1982. It is registered under the Companies Act of Bhutan, 2000 as a public sector commercial bank. Developments and Presence Being the largest commercial bank in Bhutan, it has its presence in every Dzongkhang or districts with over 47 branches all over Bhutan. Bank of Bhutan also introduced ATMs, Point of Sales and Internet Banking services in the country. As of July 1, 2017, the bank's assets reached 47.7 million Ngultrum (about US$750 thousand). 55% of them consist of loans, primarily consumer loans to the population and mortgages. The bank remains the largest bank in the kingdom. It accounts for 41% of deposits and 32% of loans to the economy. Investments The owners of Bank of Bhutan are Druk Holding & Investments Ltd. , which owns 80% of the aut ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Sector Undertaking
A state-owned enterprise (SOE) is a government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn profit for the government, control monopoly of the private sector entities, provide products and services to citizens at a lower price and for the achievement of overall financial goals & developmental objectives in a particular country. The national government or provincial government has majority ownership over these ''state owned enterprises''. These ''state owned enterprises'' are also known as public sector undertakings in some countries. Defining characteristics of SOEs are their distinct legal form and possession of financial goals & developmental objectives (e.g., a state railway company may aim to make transportation more accessible and earn profit for the government), SOEs are government entities established to pursue financial objectives and develo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Sector
The public sector, also called the state sector, is the part of the economy composed of both public services and public enterprises. Public sectors include the public goods and governmental services such as the military, law enforcement, infrastructure, public transit, public education, along with health care and those working for the government itself, such as elected officials. The public sector might provide services that a non-payer cannot be excluded from (such as street lighting), services which benefit all of society rather than just the individual who uses the service. Public enterprises, or state-owned enterprises, are self-financing commercial enterprises that are under public ownership which provide various private goods and services for sale and usually operate on a commercial basis. Organizations that are not part of the public sector are either part of the private sector or voluntary sector. The private sector is composed of the economic sectors that are intende ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Swiss Franc
The Swiss franc is the currency and legal tender of Switzerland and Liechtenstein. It is also legal tender in the Italian exclave of Campione d'Italia which is surrounded by Swiss territory. The Swiss National Bank (SNB) issues banknotes and the federal mint Swissmint issues coins. In its polyglot environment, it is often simply referred as german: Franken, french: franc, it, franco and rm, franc. It is also designated through signes: ''Fr'' Some fonts render the currency sign character "₣" (unicodebr>U+20A3 as ligatured Fr, following the German language convention for the Swiss Franc. However, most fonts render the character as F with a strikethrough on the lower left, which is the unofficial sign of French Franc. (in German language), ''fr.'' (in French, Italian, Romansh languages), as well as in any other language, or internationally as ''CHF'' which stands for ''.'' This acronym also serves as eponymous ISO 4217 code of the currency, CHF being used by banks and financial ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Japanese Yen
The is the official currency of Japan. It is the third-most traded currency in the foreign exchange market, after the United States dollar (US$) and the euro. It is also widely used as a third reserve currency after the US dollar and the euro. The New Currency Act of 1871 introduced Japan's modern currency system, with the yen defined as of gold, or of silver, and divided decimally into 100 ''sen'' or 1,000 ''rin''. The yen replaced the previous Tokugawa coinage as well as the various ''hansatsu'' paper currencies issued by feudal ''han'' (fiefs). The Bank of Japan was founded in 1882 and given a monopoly on controlling the money supply. Following World War II, the yen lost much of its prewar value. To stabilize the Japanese economy, the exchange rate of the yen was fixed at ¥360 per US$ as part of the Bretton Woods system. When that system was abandoned in 1971, the yen became undervalued and was allowed to float. The yen had appreciated to a peak of ¥271 per US$ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Euro
The euro ( symbol: €; code: EUR) is the official currency of 19 out of the member states of the European Union (EU). This group of states is known as the eurozone or, officially, the euro area, and includes about 340 million citizens . The euro is divided into 100 cents. The currency is also used officially by the institutions of the European Union, by four European microstates that are not EU members, the British Overseas Territory of Akrotiri and Dhekelia, as well as unilaterally by Montenegro and Kosovo. Outside Europe, a number of special territories of EU members also use the euro as their currency. Additionally, over 200 million people worldwide use currencies pegged to the euro. As of 2013, the euro is the second-largest reserve currency as well as the second-most traded currency in the world after the United States dollar. , with more than €1.3 trillion in circulation, the euro has one of the highest combined values of banknotes and coins in c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pound Sterling
Sterling (abbreviation: stg; Other spelling styles, such as STG and Stg, are also seen. ISO code: GBP) is the currency of the United Kingdom and nine of its associated territories. The pound ( sign: £) is the main unit of sterling, and the word "pound" is also used to refer to the British currency generally, often qualified in international contexts as the British pound or the pound sterling. Sterling is the world's oldest currency that is still in use and that has been in continuous use since its inception. It is currently the fourth most-traded currency in the foreign exchange market, after the United States dollar, the euro, and the Japanese yen. Together with those three currencies and Renminbi, it forms the basket of currencies which calculate the value of IMF special drawing rights. As of mid-2021, sterling is also the fourth most-held reserve currency in global reserves. The Bank of England is the central bank for sterling, issuing its own banknotes, and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Dollar
The United States dollar ( symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes, popularly called greenbacks due to their predominantly green color. The monetary policy of the United States is conducted by the Federal Reserve System, which acts as the nation's central bank. The U.S. dollar was originally defined under a bimetallic standard of (0.7735 troy ounces) fine silver or, from 1837, fine gold, or $20.67 per troy ounce. The Gold Standard Act of 1900 linked the dollar solely to gold. From 1934, it ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foreign Exchange Market
The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices. In terms of trading volume, it is by far the largest market in the world, followed by the credit market. The main participants in this market are the larger international banks. Financial centers around the world function as anchors of trading between a wide range of multiple types of buyers and sellers around the clock, with the exception of weekends. Since currencies are always traded in pairs, the foreign exchange market does not set a currency's absolute value but rather determines its relative value by setting the market price of one currency if paid for with another. Ex: USD 1 is worth X CAD, or CHF, or JPY, etc. The foreign exchange market works thro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Finance (Bhutan)
Ministry of Finance is ministry of Bhutan is responsible to steer and sustain a robust economy through a dynamic fiscal policy and strong culture of fiscal discipline. Departments The Ministry of Finance is responsible for: *Department of Macroeconomic Affairs *Department of National Budget *Department of National Properties *Department of Public Accounts *Department of Revenue and Customs Ministers *Lyonpo Chogyal (20 May 1968 – 1988) *Lyonpo Dorji Tshering (1988 – 1998) *Lyonpo Yeshey Zimba (August 1998 – July 2003) *Lyonpo Wangdi Norbu (July 2003 – July 2007) (April 2008 – May 2013) *Lyonpo Namgay Dorji (July 2013 - 2018) *Lyonpo Namgay Tshering (7 November 2018 - ...) Source: References Finance Bhutan Bhutan (; dz, འབྲུག་ཡུལ་, Druk Yul ), officially the Kingdom of Bhutan,), is a landlocked country in South Asia. It is situated in the Eastern Himalayas, between China in the north and India in the south. A mountainou .. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Politics Of Bhutan
The Government of Bhutan has been a constitutional monarchy since 18 July 2008. The King of Bhutan is the head of state. The executive power is exercised by the Lhengye Zhungtshog, or council of ministers, headed by the Prime Minister. Legislative power is vested in the bicameral Parliament, both the upper house, National Council, and the lower house, National Assembly. A royal edict issued on April 22, 2007 lifted the previous ban on political parties in anticipation of the National Assembly elections in the following year. In 2008, Bhutan adopted its first modern Constitution, codifying the institutions of government and the legal framework for a democratic multi-party system. Sovereignty Bhutanese external relations and foreign policies were put under British control following the 1910 Treaty of Punakha. However, due to the policy of self-imposed isolationism, the effect of the treaty was limited to an extent. After Indian independence in 1949, Bhutan and India agreed to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bhutanese Ngultrum
The ngultrum (; dz, དངུལ་ཀྲམ , symbol: Nu., code: BTN) is the currency of the Kingdom of Bhutan. It can be literally translated as 'silver' for ''ngul'' and 'coin' for ''trum''. It is subdivided into 100 chhertum ( dz, ཕྱེད་ཏམ , spelled as ''chetrums'' on coins until 1979). The Royal Monetary Authority of Bhutan, the central bank of Bhutan is the minting authority of the ngultrum banknotes and coins. The ngultrum is currently pegged to the Indian rupee at parity. History Until 1789, the coins of the Cooch Behar mint circulated in Bhutan. Following this, Bhutan began issuing its own coins known as ''chetrum'', mostly silver rupees. Hammered silver and copper coins were the only types issued until 1929, when modern style silver rupee coins were introduced, followed by bronze 1 paisa in 1931 (dated 1928). Nickel rupee coins were introduced in 1950. While the Cooch Behar mint coins circulated alongside Bhutan's own coins, decimalization was intro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Online Banking
Online banking, also known as internet banking, web banking or home banking, is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website. The online banking system will typically connect to or be part of the core banking system operated by a bank to provide customers access to banking services in addition to or in place of traditional branch banking. Online banking significantly reduces the banks' operating cost by reducing reliance on a branch network and offers greater convenience to some customers by lessening the need to visit a branch bank as well as the convenience of being able to perform banking transactions even when branches are closed. Internet banking provides personal and corporate banking services offering features such as viewing account balances, obtaining statements, checking recent transactions, transferring money between accounts, and mak ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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