Bhutan’s DK Bank gets ADGM in-principle approval for Abu Dhabi expansion
Bhutan’s DK Bank has received In-Principle Approval from ADGM’s Financial Services Regulatory Authority to establish a regulated subsidiary in Abu Dhabi. The approval gives the bank a pathway toward its first financial services presence outside Bhutan.
DK plans to offer brokerage, custody, payments and advisory services through the Abu Dhabi entity. That is subject to meeting the conditions of the approval and securing a final Financial Services Permission.
The bank said it is the first Bhutanese lender to receive in-principle regulatory approval for a financial services presence outside the country.
The planned expansion is part of DK’s broader effort to connect Bhutan and Gelephu Mindfulness City, or GMC, with international capital. That includes investors and financial institutions. Abu Dhabi would serve as an overseas base for those activities. It would also be a link between markets in Asia and the Middle East.
“This is a milestone for DK and for...
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