Oro Bank is working on launching a range of investment products and cards to provide customers with a comprehensive and diverse set of financial services
The number of accounts with Oro Bank continues to grow significantly as Bhutanese living abroad shows more interest in investing in Oro Bank.
Mike Kayamori, Chief Executive Officer (CEO) of the Oro Bank said, “The number is in the thousands and continues to grow significantly each day. Our hope is that all or nearly all Bhutanese living abroad will eventually have an account with ORO Bank.”
The CEO said that while Oro Bank faces two key challenges, first with the people often procrastinating and leaving the registration until the last minute. “At the end of last year, before the deadline for the fixed term deposit purchase was extended from December 31, 2024 until March 31, 2025, we saw a significant surge in registrations as the initial deadline approached.”
The CEO said that second key challenge is they found many people wanted to speak to someone at the bank to ensure they understood the registration process and Fixed-Term Deposit (FTD) details correctly.
“These two factors combined led to a large number of inquiries and slowed down the registration process,” the CEO said, adding that to assist with any questions or technical difficulties, the support team is available through the Bank’s social media channels, intercom (chat help), and email. “We’re here to help ensure a smooth registration process for everyone and we encourage everyone who hasn’t opened an account yet to start the process as early as possible.”
When asked about the possibility of Bhutanese living in Canada opening an Oro Bank account, the CEO shared that the Canadian government doesn’t allow residents to open offshore bank accounts as per the regulations. However, he said that they are working on it.
“We have developed some solutions to onboard Bhutanese from locations that are currently not supported and are currently conducting testing to ensure we can implement these solutions while maintaining a smooth user experience,” said Mike Kayamori . “We hope to have announcements about this in the coming days.”
In addition, the CEO also said that in the coming weeks Oro Bank will announce several new partnerships that will enable the customers to send and receive money transfers more cheaply and quickly.
“We are also working on launching a range of investment products and cards to provide our customers with a comprehensive suite of financial services,” said the CEO, adding that they encourage all Bhutanese citizens living abroad to explore the opportunities available through ORO Bank as it strives to support the growth and prosperity of the nation.
The Oro Bank’s digital platform allows seamless global access, making it easy for non-resident Bhutanese to participate where investors not only support the Gelephu Mindfulness City (GMC) international airport project, but also earn attractive returns and receive a certificate of appreciation. “This initiative aligns with Bhutan’s Gross National Happiness (GNH) philosophy, promoting sustainable and mindful economic growth,” said the CEO.
The CEO said that by participating, investors not only support a significant national project but also benefit from attractive returns on their deposits and as a token of appreciation, each investor will receive a certificate recognizing their contribution to this transformative initiative. “This investment reflects the values of sustainability, mindfulness, and innovation that are at the heart of the GMC vision,” he said.
Meanwhile, Mike highlighted that Bhutanese living abroad have a unique opportunity to contribute to the development of the GMC by investing in ORO Bank’s FTD program. “This initiative is part of a nation-building campaign to fund the construction of an international airport in GMC,” he said.
As Asia’s first full-reserve digital bank, ORO Bank ensures all deposits are held in reserve, offering enhanced security and stability.
ORO Bank is dedicated to continuously enhancing its services and expanding accessibility for Bhutanese expatriates residing, working, or studying outside of Bhutan. “We are committed to addressing our customers’ pain points and creating innovative solutions to better serve their financial needs,” said the CEO.
Sherab Dorji from Thimphu