Community: With the hope of educating people on the lowest denomination note, Jigme Namgay, a graduate, started the One Ngultrum Initiative in July this year.
Collaborating with the Bhutan Kidney Foundation, the One Ngultrum Initiative is gradually gaining popularity with many people donating the note towards the cause.
With 250 registered members and individuals supporting it, they have collected around Nu 19,000 (all in one denomination notes) as of yesterday, which is aimed to help individuals recovering from kidney failure diseases.
“The idea for the initiative came when I saw people, even shopkeepers, not respecting the value of the note,” Jigme Namgay said.
“There were people throwing the note recklessly around. So to advocate and educate people on the importance of the note in our economy I started with this initiative,” Jigme Namgay said. “I’m happy that many people are showing a positive response towards this initiative.”
From 1961 to April 2015, around Nu 78 million (M) of one Ngultrum notes were printed by the Royal Monetary Authority, of which around Nu 58M of these notes are in circulation today, Jigme Namgay said.
“Our target is to grab these notes that are stagnant as of now to help people understand that this note can help and change other people’s lives,” Jigme Namgay said.
With the help of the Bhutan Kidney Foundation, the funds that are collected are kept accountable and transparent.
Founder of Bhutan Kidney Foundation, Tashi Namgay, said they are happy that young people are coming up with such initiatives.
“The One Ngultrum Initiative will definitely help the foundation. We are happy to support the young people like Jigme Namgay who wants to give back to their community,” Tashi Namgay said.
The initiative accepts new, old or torn one Ngultrum notes.
The Kuenphen Medical shop in Thimphu is a drop-off point for those interested in donating towards this initiative or interested in becoming a member. The foundation can also be contacted for further information.
An annual lucky draw will also be held where people that have donated, based on their serial numbers, will be awarded with prizes. The date of the lucky draw has not yet been finalised.