Bhutan

GMW national coordinator: Royal Monetary Authority of Bhutan Participating organisations: Financial institutions, Ministry of Education, 20 schools, Gedu College of Business Studies, Bhutan Care Credit Ltd (MFI) Total number of participating organisations: 28 Number of children and young people reached directly: 6,830 Number of adults reached directly: 1,500 Number of people reached indirectly: 5,000

To celebrate GMW 2021, the Royal Monetary Authority of Bhutan together with partners planned different activities.

On March 24th the launch of “Financial Literacy and FinTech” curriculum, a joint Certificate Programme at Gedu College of Business Studies (GSBS) was held. The initiation of the programme was graced by the Vice Chancellor and the Governor of the RMA. The college envisions that the programme helps young people to better understand financial matters and give practical experience of undergoing FinTech challenge. The modules impart critical understanding of the linkages between financial inclusion to inclusive economic development, managing personal finance, and more. Upon successful completion of the programme, students were awarded a joint certificate (RMA-GCBS) on Financial Literacy and FinTech.

During the week, the “KUEN-Phen Financing” concept, an integrated model of crowdsourcing and bridge financing for the marginalised segment, was launched. The launch was attended by the Governor of the RMA, and other representatives from financial institutions, NGOs, and relevant agencies. The KUEN-Phen Financing supports the National Financial Inclusion Strategy 2018-2023 objective of creating an inclusive finance for unserved and underserved segment of the population. Kuen-Dhen is a not-for-profit spearheaded by the Royal Monetary Authority in collaboration with the Royal Securities Exchange of Bhutan (RSEBL) and Bhutan Care Credit Limited (BCCL). Its aim is to raise funds through an innovative mix of crowdsourcing and bridge financing.

Many school across the country participated in GMW through numerous initiatives such as financial literacy programmes, opening of bank accounts, creative competitions in essay, art, quiz and video as well as launching of other school projects and Students Business Seedling (SBS) Nucleus clubs. The Bank of Bhutan collaborated with the Parking Fee Collectors and Taxis for payments through National QR with an aim to reduce cash and small note handling. TBank and Tabadramtoe Lower Secondary School (A YE Banking school) initiated opening of bank accounts for students. Similarly, Bhutan Development Bank Limited (BDBL) assisted in opening bank accounts for students at Zangkhar Primary School (A YE Banking School), Lhuntse. Bhutan National Bank Limited (BNBL) team celebrated GMW 2021 at Haa and Paro with the sensitisation programme on financial literacy for children and youth. Druk PNB Limited joined the Campaign at Umling Lower Secondary School, Gelephu with the opening of bank accounts for students.

Did you know?

RMA organises FinLit Edu Chronicle, a social media initiative to engage young people in discussions and get direct insights of their views about financial matters. During the GMW, the RMA organized the FinLit Edu

Chronicles on 2021 Global Money Week theme “Take care of yourself,

Take care of your money” on the FinLit Bhutan Facebook page.

Participants were asked to share their critical thoughts and views on the theme and send their self-made videos.