IFC Courtesy meeting with FIAB
Several key officials from the International Finance Corporation (IFC) and its Bhutan Country Office called upon the President of the Financial Institutions Association of Bhutan (FIAB) for a courtesy meeting on 21st November 2023.
During the meeting a gamut of issues pertaining to the Bhutanese Financial Sector were discussed. The IFC officials were on a mission to understand the current state of the Financial Sector in Bhutan and how IFC could support the Financial Institutions (FIs). They made a host of queries ranging from the NPLs to the liquidity position of the FIs.
The President of the FIAB provided an overall current situation of the Financial Sector including the history of the various Financial Institutions of Bhutan. He also shared the challenges that the Financial Sector is presently facing and also touched briefly on the current political scenario. He stated that the IFC can bring investments either through the Government or through the FIs on projects that could generate foreign currencies and narrow the gap on the Country’s trade deficits.
