Tsemo Monastery, built by King Tashi Namgyal, the successor of the Namgyal dynasty who ruled over Leh during the 15th century, was founded in the year 1430. The monastery is currently looked after the monks of the Sankar Gompa. Age-old manuscripts and frescoes along with a huge, 3-storey tall, golden statue of the Maitreya Buddha, also known as the Laughing Buddha or the Buddha of the future, can be seen at the monastery. Apart from that, 10 ft tall statues of the Avalokiteshvara, a 'bodhisattva who embodies the compassion of all the Buddhas, and an idol of Manjushri, a 'bodhiattva' associated with transcendent wisdom, respectively, are enshrined here.