RSEB launches three digital systems
Royal Securities Exchange of Bhutan (RSEB) yesterday launched Impact Bhutan, a social crowdfunding platform, to commemorate His Majesty’s 40th birth anniversary.
Through this platform, the fundraising campaigns are expected to serve as a catalyst for social cause.
Chief Executive Officer of RSEB, Dorji Phuntsho, said that Impact Bhutan would provide fundraising opportunities for donations and reward-based campaigns. The platform, he added, would be a convenient medium to mobilise fund, for social entrepreneurs to promote their products and services and could serve as an alternate link for CSOs to reach their targeted audience.
“We are in the process to link international payment channels for the campaigners to solicit with philanthropists and donors around the world,” he said.
Coinciding with the launch, Ability Bhutan Society opened its campaign to help children with disabilities from economically disadvantaged backgrounds.
The reward-based crowdfunding aims to raise funds for projects or businesses with non-financial rewards.
“Through this reward campaign RSEB is exploring financing option to support Bhutan Film Industry,” Dorji Phuntsho said.
RSEB also launched an interactive web-based system called Automated Reporting Management System (ARMS) to enhance market transparency and encourage timely disclosure of information by the listed companies to their shareholders.
ARMS is expected to provide seamless information as mandated by the listing rule. The system, according to Dorji Phuntsho, would display price sensitive information to enhance transparency for market integrity.
RSEB also launched Property e-Auction System (PeAS). PeAS is a transparent online auction system integrated with the payment gateway built on the concept of conventional auction arrangement.
The system, he said, was designed to encourage fair price, discover mortgaged properties auctioned by the financial institutions and to enable wider participation of bidders. “It is a virtual auction platform where both the buyer and sellers have the flexibility to trade assets at one’s convenience.”
He said that the launch of these systems was a tribute to His Majesty’s aspiration on embracing technology as a primary driver of 21st century economic development of the country.