ISO certification laurels for Bank of Bhutan

Tenzin Namgay/ Thimphu As the country collects momentum in its transition to digital banking, the oldest bank in the country – Bank of Bhutan Limited gets certified by the International Organization for Standardization (ISO) for information security management system. ISO 27001 certification demonstrates that you have identified the risks, assessed the implications and put in place systemised controls to limit any damage to the organisation. Bank of Bhutan Limited was awarded ISO 27001:2013 certification for information security management system, BoBL was found securing the information of its clients against cyber threats, an impenetrable firewall. With ISO 27001:2013 certification for information security management system, the bank will have benefits including increased reliability and security of systems and information, improved customer and business partner confidence. The Chief Executive Officer of Bank of Bhutan Limited, Dorji Kadin assured that the bank is not stopping at the certification, the bank will continue to work on their security features and strengthen to the best as cyber threats keep changing. “As cyber threats by nature will keep changing, we will need to keep abreast of security developments across the globe and accordingly update the information security management system of the bank,” said the BoB’s CEO, Dorji Kadin. Meanwhile, the ISO 27001 certification was also awarded to Bhutan National Bank Limited for its information security management system. There are host of benefits of ISO 27001 certification. It includes avoid hefty fines. ISO 27001 is the accepted global benchmark for the effective management of information assets. It enables organisations to avoid the costly penalties associated with non-compliance with data protection requirements and the financial losses resulting from data breaches. It protect the reputation, cyber-attacks are on the increase in across Europe and the rest of the world, and can have a massive impact on your organisation and its reputation. An ISO 27001-certified ISMS (information security management system) helps protect your organisation and keeps you out of the headlines. Comply with business, legal, contractual and regulatory requirements, ISO 27001 certification is also in line with rigid regulatory requirements such as the GDPR (General Data Protection Regulation), the NIS Directive (Directive on security of network and information systems) and other cyber security laws. Improves structure and focus, when an organisation grows rapidly, it does not take long before there is confusion around responsibility for information assets. ISO 27001 helps organisations set up clear information risk responsibilities. Reduces the need for frequent audits, ISO 27001 certification is globally accepted and demonstrates effective security, reducing the need for repeat customer audits. .