Management

Dasho Penjore was appointed as the Governor of the Royal Monetary Authority of Bhutan in December 2015, and is serving his second term as Governor, following his re-appointment in 2020. Dasho Penjore started his career in the RMA in 1987 and has over 30 years of experience in central banking and monetary policy and macroeconomic policy. Dasho also served as the Gyalpoi Zimpon (Chamberlain) to His Majesty The King of Bhutan from 2007, equipping him with valuable insights and expertise in welfare and social policy. At the time of his appointment as the RMA’s Governor, he was serving as the Chief Executive Officer of the National Pension & Provident Fund of Bhutan.

Dasho was conferred the red scarf in 2008 and received the Druk Thuksey medal from His Majesty The King in December 2017 for his dedicated service to the nation.

He holds a Master's in Economics from Northeastern University, Boston, USA.

Ms. Yangchen Tshogyel became the Deputy Governor of the Royal Monetary Authority of Bhutan in September 2016 and was re-appointed for a second term in September 2021. Yangchen started her career in the Research and Statistics Department of RMA in 2001 and brings strong experience in external sector statistics and policy as well as monetary and macroeconomic policy. In addition to her central banking experience, Yangchen also worked closely with a diverse group of civil servants for over two years during the COVID-19 pandemic on various welfare, youth re-skilling and transformation initiatives. Apart from overseeing the monetary policy, foreign exchange and reserve management, and payments functions of the RMA, Yangchen is also passionate about driving HR reforms and organizational excellence. She has a Master's degree in Public Policy, specializing in Economic Policy, from the Australian National University, Australia.

Ms. Ugyen Choden assumed the role of Deputy Governor of the Royal Monetary Authority of Bhutan on December 1, 2023. Prior to this appointment, she held various leadership positions in the RMA and brings expertise in financial regulation, supervision, and intelligence. Ugyen's proficiency extends to project management, market analysis, and stakeholder engagement. Currently pursuing a Master in Business Administration, she is dedicated to further enhancing her skills to drive positive change in the financial landscape. Her extensive involvement in various technical committees underscores her commitment to advancing financial inclusion and integrity. Ugyen is committed to drive the growth and stability of Bhutan's financial sector.

Ms. Tshering Dema is the Executive Director in the Department of Banking since 2016. Prior to her current position, she was the Director of the Department of Financial Regulation and Supervision since 2011. She has been with the institution for the past 22 years, serving in various capacities including Bank supervisor, Off-site examiner, Director and Executive Director.

Ms. Dema has a Master’s degree in Economic policy and Management from the University of Columbia and Bachelor’s degree in Commerce (honors).

Ms. Dechen Yangzom embarked on her career in the Department of Foreign Exchange & Reserve Management at Royal Monetary Authority of Bhutan (RMA) as a Foreign Exchange Officer from 2005 to 2007. In 2007, she was transferred to the Department of Banking as Assistant Accounts Officer. After completing Master of Professional Accounting from Edith Cowan University, Australia in 2016, she took the lead on the implementation of BAS 2015 (IFRS 2014) at RMA. Currently, Ms. Dechen is serving as the Director of the Department of Internal Audit at the RMA since 2021, spearheading the implementation of Risk-Based Internal Auditing at RMA with Technical Assistance from IMF. Additionally, Ms. Dechen serves as one of the Board Members of and Accounting and Auditing Standards Board (AASBB) and the Member Secretary to the Audit Committee of the Royal Monetary Authority (RMA).

Mr. Kesang Jigme was appointed as the Director of Department of Payment and Settlement Systems (DPSS) in September 2023. He started his career at the RMA in 2007 as an Assistant Research Officer. In the year 2009, he was transferred to the newly established Payment and Settlement Systems Department, assuming the role of Oversight Officer to oversee and ensure the stability and efficiency of payment systems and managing associated risks. Throughout his tenure at DPSS, he played a pivotal role in various initiatives, including the department's establishment, the implementation of electronic payment systems, the introduction of the Bhutan Financial Switch (BFS), the drafting of operational procedures, and the enhancement of internal control systems. He holds a Master's degree in Business Administration from the University of Canberra, Australia.