BoB launches first of its kind sales agent scheme

Business Bhutan - - Money - Chen­cho Dema from thim­phu

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.

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