BankHeadOffice.com         Bank Head Office Worldwide   ♦ Loan Calculators ♦ Mortgage Guides ♦ Banking FAQs ♦ Banking Institutions ♦ Central Banks Worldwide       Home  »  Central Banks Worldwide  »  Royal Monetary Authority of Bhutan Royal Monetary Authority of Bhutan The Royal Monetary Authority of Bhutan is the central bank of Bhutan and is a member of the Asian Clearing Union. It is also the minting authority for the Bhutanese ngultrum. The Royal Monetary Authority of Bhutan was established under the Royal Monetary Authority of Bhutan Act of 1982. Subsequently, the Act of 1982 was amended by the Financial Institutions Act of 1992 and replaced in its entirety by the Royal Monetary Authority Act of 2010.   The Royal Monetary Authority was established in 1982. The following year, it took on the responsibilities of issuing Bhutanese currency, managing external reserves, and operating foreign exchanges. In 1988, the Authority assumed the role of government banker, holding the bulk of government deposits and providing financing. With the passage of the Financial Institutions Act of 1992, the substantive framework of the Authority was expanded to include licensure, regulation, and inspection of financial institutions in Bhutan. The important functions of the Royal Monetary Authority of Bhutan is as follows:   ♦  to regulate the availability of money and its international exchange; to promote monetary stability;   ♦ to supervise and regulate banks and other financial institutions; and   ♦ to promote credit and exchange conditions, and a sound financial structure conducive to the balanced growth of the economy. In achieving the functions as mentioned above, Royal Monetary Authority of Bhutan commits itself to providing effective support functions through a sound banking and financial control system, appropriate information system and the development of competent and qualified staff.   Royal Monetary Authority of Bhutan HQ Address: Post Box No. 154 Thimphu Bhutan Telephone: +975-2-323111 / 323112 Facsimile: +975-2-322847 Website: www.rma.org.bt Currency: Ngultrum Banking Hours: Monday - Friday : 9.00am - 4.00pm     The Royal Monetary Authority of Bhutan accepts that the credibility of its policy and actions is a prerequisite for the attainment of its goals and that such credibility can only be achieved and maintained through independent action, firmness of principle, resoluteness and fixed intent.   DISCLAIMER The content comes from Internet, reasonable efforts are made to maintain accuracy of information published. However, information could contain errors or inaccuracies and is presented without warranty and statutory means. No liability is assumed for errors or omissions. Viewers are advised to consult their banker or financial consultant for complete information and their professional advise. All trademarks, logos, brand names and copyrights are the property of their respective owners. © 2011 - 2022 BankHeadOffice.com ® All Rights Reserved