Abu Dhabi, UAE and Gelephu, Bhutan, 8 October 2026 – DK Bank (“DK”) announced today that it has been granted In-Principle Approval (“IPA”) by the Financial Services Regulatory Authority (“FSRA”) of ADGM — the international financial centre of Abu Dhabi, the capital of the United Arab Emirates. The approval is for a Financial Services Permission (“FSP”) enabling the bank to set up a subsidiary in ADGM that will provide brokerage, custody, payments, and advisory services.
This milestone represents a major advancement in DK’s global growth strategy, establishing DK as the inaugural Bhutanese bank to secure in-principle regulatory authorization for financial operations outside of Bhutan.
Upon meeting the requirements of the IPA and securing its final FSP, DK plans to set up a regulated footprint in Abu Dhabi. This hub will serve as an international base to link Gelephu Mindfulness City (“GMC”) and the wider Bhutanese economy with worldwide capital, investors, and financial institutions.
Abu Dhabi plays a central role in DK’s global strategy, acting as a bridge connecting the Middle East, Asia, and other international markets.
This progress coincides with deepening regulatory ties between ADGM and GMC. In April 2025, the Gelephu Financial Services Office (“GFSO”) and the ADGM FSRA entered into a Memorandum of Understanding to set up a structure for mutual regulatory collaboration, information sharing, and ongoing communication between the two regulators.
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.”
About DK Bank
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.
