. KATHMANDU: Nepal Rastra Bank (NRB), the central bank of directors, chief executive officers (CEOs), and senior management posts in banks and financial institutions to make appointments to directors, chief executive officers (CEOs) and senior management posts more systematic, transparent and accountable.
The Nepal Rastra Bank (NRB) has amended the Unified Directive issued by the Nepal Rastra Bank (NRB) to the banks and financial institutions (BFIs) and has made it mandatory to collect 10 important details from the concerned person while making appointment or nomination to such posts.TAG_OPEN_p_8
Prior to this, banks and financial institutions were not required to collect detailed personal, professional and ethical background details while appointing directors, CEOs and senior management officials.TAG_OPEN_p_7 With the new provision, the appointment to such posts will have to take detailed information about the qualifications, experience, financial condition, legal background and professional conduct.
According to the NRB, this provision has been made to ensure the capacity, honesty, transparency and commitment to good governance of the people at the leadership level of banks and financial institutions.TAG_OPEN_p_6
In recent years, the regulator has been taking various corrective measures, prioritizing the issues of good governance, risk management and accountability in the banking sector.TAG_OPEN_p_5
