GMT or UTC +05:00 Time Zone Flag = Dragon Time Zone Flag

The flag for UTC +5:00 uses the colours blue, white, and yellow.  The five partitions of blue and white represent the number five, reflective of the UTC 5:  two white stripes, one central blue stripe and two blue fields.  The downward bend indicates that is in a positive time adjustment relative to GMT Zulu Hour.  In the upper fly is the Western emblem for the Year of the Dragon.  Since the 5th time zone faster that GMT is ahead the Eastern Zodiac is in use. 

The Dragon is so appropriate geographically speaking because it divides Asia from Europe. 

Nations that fall under the Dragon Time include Russia's Yakaterinburg, Kazakstan, Uzbekistan, Turkmenistan, Pakistan, Maldives, and the French Isles of the Indian Ocean.   Also Australia's Heard and McDonald's Islands follow Dragon Time.  During the Summer, Azerbaijan can fly this flag on daylight savings time.

Note that India uses a modified version of the this flag with a crescent moon at the 30 minute position to indicate an addition of 30 minutes. 

Likewise Nepal also has its own version of the flag with a moon at the 45 minute position to indicate it is still under 5th time zone flag but with 45 extra minutes.