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Abu Dhabi, UAE and Gelephu, Bhutan, 8 October 2026 – DK Bank (“DK”) today announced that it has received In-Principle Approval (“IPA”) from the Financial Services Regulatory Authority (“FSRA”) of ADGM, the international financial centre of Abu Dhabi, the capital of the United Arab Emirates, for a Financial Services Permission (“FSP”) to establish a subsidiary to carry on brokerage, custody, payments and advisory services in ADGM.
The approval marks a significant step in DK’s international expansion and makes DK the first Bhutanese bank to receive in-principle regulatory approval for a financial services presence outside Bhutan.
Subject to satisfying the conditions of the IPA and receiving its final FSP, DK intends to establish a regulated presence in Abu Dhabi, creating an international base from which it can connect Gelephu Mindfulness City (“GMC”) and Bhutan more broadly with global capital, investors and financial institutions.
Abu Dhabi is a key part of DK’s international strategy, providing a gateway between the Middle East, Asia and other global markets.
The development also comes against the backdrop of growing regulatory cooperation between ADGM and GMC. In April 2025, the Gelephu Financial Services Office (“GFSO”) and the ADGM FSRA signed a Memorandum of Understanding establishing a framework for regulatory cooperation, information exchange and engagement between the two authorities.
Gelay Jamtsho, Chairperson of DK, said:
“This is a milestone for DK and for Bhutan. Once final approval is received, Abu Dhabi will give DK a regulated international base connecting Gelephu Mindfulness City with global capital, investors and financial institutions.”
“Our goal is simple: make GMC easier to invest in, trade with and bank from - and demonstrate that a Bhutanese financial institution can operate to the standards of a leading global financial centre.”
Zheng Yudong, Group Chief Executive Officer of DK, said:
“The In-Principle Approval gives us a clear path towards establishing DK’s presence in one of the world’s leading international financial centres.”
“We are building institutional-grade financial infrastructure that connects markets across Asia and the Middle East, supported by strong regulation and robust technology. ADGM will be an important part of that network and of DK’s next phase of international growth.”
David Peters, Managing Director of GFSO, said:
“This is significant not only for DK, but for the development of GMC as an internationally connected financial centre.”
“Our cooperation with ADGM is about building strong relationships with leading global jurisdictions. DK’s progress in Abu Dhabi is a practical example of how institutions based in Bhutan and GMC can connect to international markets while operating to high regulatory standards.”
DK Bank (“DK”) is a financial services group building a next-generation, globally connected financial ecosystem that enables seamless access to financial services across markets.
Combining regulated financial infrastructure with technology-driven solutions, DK serves individuals, businesses and institutional clients, with a focus on secure, efficient and accessible cross-border financial services.
DK is developing a network of regulated financial services businesses across key international markets, bridging traditional finance and digital assets and connecting customers and capital across Asia, the Middle East and beyond.
