Bank of Bhutan Limited (BoBL) became the first bank to launch the scheme of Tshongdrel Ngotshaps (sales agent) on Monday at Ariya hotel, Thimphu.
These agents apart from selling banks products and services will provide information or clarify the doubts of clients in far flung areas on banks products and services.
Any literate person above the age of 25 from across the kingdom is eligible to be a Tshongdrel Ngotshap therefore the scheme creates employment opportunities while also providing an avenue to earn additional income for the already employed.
The agents will also benefit clients by providing the best products that suit the clients’ needs, which will help create awareness about banking among the people, ultimately improving financial literacy in the country.
Clients will no longer have to visit the bank so banking becomes convenient and time saving for everyone.
So far, a total of 80 agents have been registered from different corners of the country and the bank is still receiving more applications.
The main objective of the scheme is to increase awareness on bank products and services, and to increase business opportunities especially the loan market share.
However, employees of the bank are not allowed to be agents. The agents will be work on a commission-based remuneration model paid by the bank but clients availing services through the agent do not have to pay for the services.
BoB established in 1968 through a Royal Charter the Bank of Bhutan is the oldest and largest bank in the Kingdom with presence in all the dzongkhags through a network of 33 branch offices and 14 extension counters.
Druk Holding and Investments, the investment arm of the Royal Government of Bhutan, and the State Bank of India, the largest public sector bank in India, owns the bank in an 80:20 ratio.
Chencho Dema from Thimphu