Why does the CTA really need a bank for?

[dsnowlion]

CTA's going on Europe tour to get rich Tibetans in EU to pump money into their bank project. Like why would these Tibetans need to do that when they can rely on more established secured banks in EU to keep their money? Is it because if they don't the CTA is going to guilt-trip them as traitors and banned them? Probably.

Why would a non-existent government without a country want to start a bank for? They say it is to provide affordable capital, financial services, and financial literacy to Tibetan entrepreneurs and promote Tibetan Micro, Small and Medium Enterprises (MSMEs). Do we really believe this?

The CTA states "TibFin is one of the most important initiatives undertaken by the CTA to ensure the long term sustainability and resilience of the Tibetan community. Participation and support of as many Tibetans as possible is critical to ensure the success of this initiative." Sounds like an urgency to ensure the CTA's existence. One has got to ask, it's been over 50 years and the people never did require a Tibetan Bank, why do they need it now all of a sudden? What will the CTA do with their investments? Sounds fishy to me.

CTA’s Chief Resilience Officer and Chief Planning Officer to visit Western Europe to promote Gangjong Development Finance (TibFin)

Dharamsala: A senior CTA delegation comprised of Kaydor Aukatsang, CTA’s Chief Resilience Officer, Dr Kunchok Tsundue, CTA Chief Planning Officer, will be visiting Switzerland, Austria, Germany, France and the Netherlands from November 15-30, 2019. The purpose of the visit is to educate and mobilize support for Gangjong Development Finance (TibFin), one of the most important initiative under the CTA’s Five-Fifty Vision.

The delegation will visit Zurich and other Swiss locations from November 15-19 and 29-30, Salzburg on November 20, Vienna on November 21, Bonn on November 22, Paris from November 23-25, and Amsterdam from November 26-28. The visit is being facilitated by the Offices of Tibet in Zurich, Paris and Brussels and the local Tibetan community associations in the five cities.

The upcoming Western Europe tour follows on the heels of the successful tour undertaken in North America in July 2019 where Tibetans residing in Canada and the United States pledged over USD1 million in investments towards transforming TibFin into the first Tibetan Small Finance Bank.

For Tibetan investors residing in Europe, TibFin has two offerings: a minimum of EUR/CHF 15,000 in equity shares and a minimum of EUR/CHF 25,000 in short-term preference shares redeemable in five years with an annual dividend rate of 1.5%

The mission of TibFin is to provide affordable capital, financial services, and financial literacy to Tibetan entrepreneurs and promote Tibetan Micro, Small and Medium Enterprises (MSMEs). TibFin is currently operating as a licensed Non-Banking Financial Company (NBFC). In its current form, CTA has since 2017 through its Livelihood Support Programme disbursed a total of 2643  financial support totalling USD4.3 million. The goal is to apply for a Small Finance Bank (SFB) license so that TibFin can operate as a full-fledged bank that can not only make loans but also accept deposits, take on debt and provide all other banking services. The investments pledged from Tibetans In Europe will go towards meeting the capitalization requirements of receiving a SFB license.

TibFin is one of the most important initiatives undertaken by the CTA to ensure the long term sustainability and resilience of the Tibetan community. Participation and support of as many Tibetans as possible is critical to ensure the success of this initiative.

Please contact your Office of Tibet and your local Tibetan Associations for specific community meeting times and venues in each location.

Source:https://tibet.net/ctas-chief-resilience-officer-and-chief-planning-officer-to-visit-western-europe-to-promote-gangjong-development-finance-tibfin/

[daka]

What is the real purpose of a very corrupted government which doesn't even own a country to start up their own bank? It's hard not to relate to money laundering intention. Not only that, when I checked their website, the requirement they listed down for loan application is another way to indirectly oppress the Dorje Shugden community.

Documents Required:

Loan application form signed and approved by the Tibetan settlement officers
Updated Registration Certificate (Optional)
Updated Green Book (GB)
One passport sized photograph
Pan Card (Optional)

"Only Tibetans are allowed to hold this book, and only people the CTA approves of will get this green book. So Dorje Shugden practitioners, for example, are not allowed to get this green book unless they received it prior to the ban." (Source: https://www.dorjeshugden.com/all-articles/news/brave-mr-dhamchoe-nyima-is-tired-of-tibetan-government-in-dharamsala/)

Therefore it's very obvious that Dorje Shugden practitioners will never get to enjoy this loan:
1. Those who didn't get a green book definitely not eligible.
2. Those who get a green book before Dorje Shugden ban will need to get their green book updated first before they can apply for the loan, and we all know that they will not get their green book updated as the approval is by the CTA.

This is another discrimination against Dorje Shugden practitioners. I hope the Tibetans see that.

[Tenzin K]

Look like another plot or syndicate of CTA to milk money from the Tibetan at oversea. I wonder if people really can trust them and really want to risk their money with CTA which we know CTA is not transparent and misused funding. For those Tibetans that living in Europe, they really have to check out on this banking properly and we know CTA has nothing to back them especially once Dalai Lama passes away. This banking idea is definitely a self-sustain for CTA.

Some questions for this project:
- How Tibetan will be benefitted from it?
- How transparent can CTA be on the investment?
- Is there a financial report and will it be audited by a professional body?

At this juncture, CTA more focus on getting money than working on the Chinese for Dalai Lama to return to Tibet.

[Drolma]

It does sound excited but in reality, is this a good initiative going to work? The CTA has been mismanaging the money and its finances, how to trust they will be able to do a good job in helping to improve the financial status of the Tibetans? Perhaps, this is just another way for the members of CTA to get money. They will approve all the loan applications of their cronies, the money is then legally transferred out from the CTA office. I bet there will not be penalty imposed for people who fail to repay the loan. For people who invest in the program, will the CTA be able to pay back?

[dsnowlion]

What is the real purpose of a very corrupted government which doesn't even own a country to start up their own bank? It's hard not to relate to money laundering intention. Not only that, when I checked their website, the requirement they listed down for loan application is another way to indirectly oppress the Dorje Shugden community.

Documents Required:

Loan application form signed and approved by the Tibetan settlement officers
Updated Registration Certificate (Optional)
Updated Green Book (GB)
One passport sized photograph
Pan Card (Optional)

"Only Tibetans are allowed to hold this book, and only people the CTA approves of will get this green book. So Dorje Shugden practitioners, for example, are not allowed to get this green book unless they received it prior to the ban." (Source: https://www.dorjeshugden.com/all-articles/news/brave-mr-dhamchoe-nyima-is-tired-of-tibetan-government-in-dharamsala/)

Therefore it's very obvious that Dorje Shugden practitioners will never get to enjoy this loan:
1. Those who didn't get a green book definitely not eligible.
2. Those who get a green book before Dorje Shugden ban will need to get their green book updated first before they can apply for the loan, and we all know that they will not get their green book updated as the approval is by the CTA.

This is another discrimination against Dorje Shugden practitioners. I hope the Tibetans see that.

How come this so-called democratic administration discriminates against its own people just because they have a different religion? Isn't a democratic government supposed to allow freedom of religion? Why sidelined Dorje Shugden practitioners, why create division... so I guess all Dorje Shugden practitioners should just all give their money to other governments except CTA then. No need to pay them a dim of any taxes whatsoever since all they do is disregard and discriminate them. Why kind of fake democratic government is this?

[Tracy]

What is the real purpose of a very corrupted government which doesn't even own a country to start up their own bank? It's hard not to relate to money laundering intention. Not only that, when I checked their website, the requirement they listed down for loan application is another way to indirectly oppress the Dorje Shugden community.

Documents Required:

Loan application form signed and approved by the Tibetan settlement officers
Updated Registration Certificate (Optional)
Updated Green Book (GB)
One passport sized photograph
Pan Card (Optional)

"Only Tibetans are allowed to hold this book, and only people the CTA approves of will get this green book. So Dorje Shugden practitioners, for example, are not allowed to get this green book unless they received it prior to the ban." (Source: https://www.dorjeshugden.com/all-articles/news/brave-mr-dhamchoe-nyima-is-tired-of-tibetan-government-in-dharamsala/)

Therefore it's very obvious that Dorje Shugden practitioners will never get to enjoy this loan:
1. Those who didn't get a green book definitely not eligible.
2. Those who get a green book before Dorje Shugden ban will need to get their green book updated first before they can apply for the loan, and we all know that they will not get their green book updated as the approval is by the CTA.

This is another discrimination against Dorje Shugden practitioners. I hope the Tibetans see that.

The Karmapas are working together to solve the two Karmapas issue so that Kagyu lineage can be united once again and continues to spread. When is the CTA going to do something to unite the Tibetans? This is very obvious that only anti Dorje Shugden people are the Tibetans the CTA will take care of. No government in this world segregates its people based on their belief. We are living in the 21st century, every one should be given the same right, there should not be different treatments for different people.

[Ringo Starr]

It is the same old people going around to collect funds for their own agenda.

Kaydor Aukatsang?

Watch this...

https://dev.invidio.us/watch?v=aCf1boxxQU8

[Tracy]

It is the same old people going around to collect funds for their own agenda.

Kaydor Aukatsang?

Watch this...

https://dev.invidio.us/watch?v=aCf1boxxQU8

I am sure this finance project is just another tactic from the CTA to take more money out from the public fund legally for themselves. The members of the CTA are known to be corrupted and don't care about the welfare of the Tibetans, it is hard to believe they will do something that is beneficial for the common Tibetans. The members of CTA will most likely get their own relatives and friends to apply for the loan and use the money for something else.

[Tenzin K]

This banking by CTA is just another tool for CTA to get public money openly and for their own benefit. This is very dangerous as we never hear any success story from CTA for any of their business plans and whatever they embark is always full of corruption.

What really worrying here is that when they collected so much money for the bank and suddenly they just declare bankruptcy and run away with the money. Those people that have invested in the bank will just lose their money. This is what we don't want to see.

[Tracy]

This banking by CTA is just another tool for CTA to get public money openly and for their own benefit. This is very dangerous as we never hear any success story from CTA for any of their business plans and whatever they embark is always full of corruption.

What really worrying here is that when they collected so much money for the bank and suddenly they just declare bankruptcy and run away with the money. Those people that have invested in the bank will just lose their money. This is what we don't want to see.

No one should trust the CTA. They will do everything and anything for their benefits. For example, they encourage Tibetans to self-immolate so they can victimise themselves and be sympathised. They are using their own people's lives to get money for themselves. How can someone trust a government who see no values in a human's life? I am not surprised if the proposal to have a bank is for the CTA to get the money out from the system into their pocket legally.

[Ngawang]

They need a bank to siphon more money from fellow Tibetans and Westerner. CTA operates solely to get more money for their own pocket. They just want to get money as much as they could before the Tibetans go back to Tibet under China. When that happens, CTA will have to disband for obvious reasons.

[Tracy]

They need a bank to siphon more money from fellow Tibetans and Westerner. CTA operates solely to get more money for their own pocket. They just want to get money as much as they could before the Tibetans go back to Tibet under China. When that happens, CTA will have to disband for obvious reasons.

I totally agree with you. The CTA is losing support from Tibetans and their supporters. Soon, the money they receive from their supporters will be lesser and lesser and the world economy is not good at all. Knowing this, the CTA will find ways to get the money out from the system. Having a bank will be a good idea. They can approve loan applications and get the money out.

[dsnowlion]

It is the same old people going around to collect funds for their own agenda.

Kaydor Aukatsang?

Watch this...

https://dev.invidio.us/watch?v=aCf1boxxQU8

(SIGH) You know what, if anything the exile Tibetans should learn and follow what Hong Kongers do... have a non-violent protest (cause they are supposed to be Buddhist). Protest on the CTA, which such a small government, only an administration, to be more transparent and to actually follow the real democratic system where there is NO DISCRIMINATION.

Surely a non-violent protest would make them listen, change their ways, respect their own court, get a new, fairer President for the people, and unite all Tibetans. Why only ask people to protest and take their own lives to China? What about the discrimination, injustice they do to their people in exile, where no western media knows and is covering? Where did all these so-called donations on Free Tibet go? Is it transparent?

Who have the CTA helped in Tibet, China or what have they done to improve Tibetans lives there besides asking them to commit suicide. Like what Lobsang Wangyal said in his opinion piece which I find VERY GOOD - Finally a Tibetan with brains and can think logically and speak the truth and their minds! >>>Forget China, let’s fix injustice in our society https://www.tibetsun.com/opinions/2019/12/03/forget-china-lets-fix-injustice-in-our-society