Youth Ethics (YE) Banking

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YE-Banking was initially pre-conceived by Ms. Tshering Yangchen, a Grade VI student of Jigme Losel Primary School in Thimphu during the Global Money Week(GMW) game challenge 2017. Tshering came up with a game design idea on ethics banking for which she was recognized by Dasho Penjore, Honorable Governor of the Royal Monetary Authority (RMA).

What if we were rewarded with Dummy Bank Notes (DBN) instead of stars as and when we perform well in academics, sports, and extracurricular activities. The child who has maximum dummy banknotes could be rewarded with attractive prizes’ –Ms. Tshering Yangchen

Ms. Tshering Yangchen
Ms. Tshering Yangchen

Soon after recognizing Tshering’s idea, the Authority set forth to formalize the idea into a dedicated school banking program, now titled as ‘Youth Ethics (YE) Banking’.  YE-Banking is also co-funded by the Savings Bank Foundation for International Cooperation (SBFIC), Germany.

With YE-Banking, children earn dummy Bank notes, bearing Bank Points through school program on academics, co-curricular activities, behavior ethics and financial values. A partner bank is also introduced, with MoU signing for banking services, such as opening of bank accounts, observing banking days and other normal banking services. Annually =, RMA incentivizes the bank points into real cash with adaptative pegged value to be deposited into their bank accounts. Some salient features of YE-Banking are:

YE Banking
YE Banking
  • Incentive and inclusive based program
  • Mass participation of children; every child is benefited
  • Linked to general and existing school’s ethics and values
  • Financial institutions support and hands-on experience
  • School sustainable programs such as one school one project
  • Inclusion of sub-program package

With the initiative, the Authority is hopeful towards improving the next generations’ financial literacy through enhancing their financial knowledge, skills, attitude, and behavior. RMA ensures to promote YE- Banking to drive financial inclusion in Bhutan. During the GMW 2018, YE-Banking was piloted to four recipients: Jigme Losel Primary School in Thimphu, Arekha Middle Secondary school in Chukha, Wangsel Institute for the Deaf in Paro, and Young Volunteers in Action (Y-VIA) in Gelephu. The Financial Inclusion Secretariat of RMA replicated the program to 12 more schools across the country; Sakteng LSS, Laya Central School, Khaling Minsel School, Goshing PS, Zangkhar PS, Umling LSS, Tabadramtoe LSS, Lauri PS, Dechenling LSS, Tshangkha MSS, Phobjikha Central School, and Wangduechholing LSS.