Tag Archives: BAFIA

Institutional reform key to growth: Finance Minister

Finance Minister Ram Sharan Mahat said that second tier reforms have become necessary to help achieve higher economic growth and lead the country to prosperity. “Since the peace process has largely completed and only constitution making is remaining, it’s high

Central bank should have power to liquidate sick financial institutions

The International Monetary Fund (IMF) has suggested the government to give more teeth to the central bank and let it have power to liquidate sick financial institutions. It is necessary for the overall financial stability, advisor at IMF’s Monetary and

Foreign partners need to offload their shares in Nepali banks

The central bank today brought a directive asking the banks and financial institutions to off load the shares of their foreign partners by one-and-a-half-year. However, they can have shares of foreign financial institutions, the central bank said. The move will

World Bank-IMF team suggests central bank to monitor big co-operatives

Financial Sector Assessment Team of World Bank and International Monetary Fund (IMF) has asked the central bank to supervise big cooperatives as Department of Cooperatives failed to regulate them due to its lack of capacity. During an interaction with the

Banks will have to publish two different sets of financial statements

Since the country is adopting International Financial Reporting Standards (IFRS) from next fiscal year, banks will have to publish two different sets of financial statements, one according to regulatory authority’s prescription and the other according to the international standard. The

Case filed against CIAA move

A case has been filed against the anti-graft body today claiming that interference in the private banks and financial institutions does not fall under Commission for Investigation of Abuse of Authority (CIAA) jurisdiction. An advocate Arjun Kumar Aryal has filed