The Royal Monetary Authority of Bhutan is working closely with the Royal Government of Bhutan and the financial sector to promote digital financial services and reduce cash transactions, with investments in infrastructure to facilitate ICT enabled payment platforms and interbank fund transfer.
The RMA would like to request all to support and promote the use of digital payments and reduce cash transactions.
Furthermore, we would also like to inform that in order to discourage account holders from issuing bad cheques, the RMA has started imposing charges on cheques returned due to insufficient funds with effect from February 1, 2017. Issuance of fraudulent cheques is also a punishable offence as per sections 304, 305 and 306 of the Penal Code of Bhutan and section 131 of the Negotiable Instruments Act of Bhutan.
Therefore, we would also like to request public service providers and entities transacting in goods and services to accept cheque payments where digitally-enabled payment platforms such as the point-of-sales machines or payment gateways are not currently being used.
Deputy Governor