The Bhutanese Leading the way.
The Gelephu Mindfulness City (GMC) Nation Building fixed-term deposit (FTD) subscriptions through ORO Bank aims to raise millions from Non-Resident Bhutanese in Australia, United States of America, etc.
The scheme was launched on 11th November 2024 marking the Birth Anniversary of His Majesty The Fourth King.
The deposits can only be done via the ORO Bank, and here, the onboarding to the bank is quite easy and simple.
The deposit will have different options based on the ground needs as encountered in Australia.
One option is to deposit USD 1,000 each lump sum, and another is an amount of around USD 250 per month.
The deposits will be for 10 years and for USD 1,000 it will provide an annual return of 10 percent if they want it in Ngultrums or 4 percent if they want the return in foreign currency.
For USD 250 monthly deposits it will provide an annual return of 8 percent if they want it in Ngultrums or 3 percent if they want the return in foreign currency
The money raised will be mainly used for infrastructure in the GMC and in this case it is the international airport.
The GMC team is already in discussions with potential big investors and partners from across the world, and the special thing about GMC is they will be given an opportunity to co-create the regulations and systems.
Bhutanese in Bhutan will also be given an opportunity to invest in the GMC deposit at a later stage.
