Government decides to merge BOIC with BDBL

I do not know how we should feel about it. Should we feel happy that correction has been made to violation of law or if we should feel disappointed that the Government has violated law as could be inferred from decision?

My reservations have always been on the violation of the Financial Services Act 2011, that requires either a license or a permit to carry out banking and financial services. While interpretations maybe subject to dispositions, there is little or no room to misread explicitly worded provisions of law. The decision, while bringing with it a sense of encouragement to see correction of a wrongdoing by the Government, it also lays before us a question of regard for law, and without that in a democracy, what else is there? I thank our guiding Star for allowing better senses to prevail. [The Foreign Minister announced the decision with reference to FSA law as the reason at the National Graduate Orientation Programme on Sept 3, 2015]


About Sangay Khandu

Elected to Parliament of Bhutan twice. Previously worked with the Central Bank, the largest SoE (power utility) and international organization.
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