Kathmandu. KATHMANDU: Nepal Rastra Bank (NRB) has warned Bharat Raj Dhakal, chairman of the board of directors of Muktinath Bikas Bank, for violating the regulatory provisions related to corporate governance.
According to the third quarter supervision report of the fiscal year 2081/82 made public by the Department of Financial Institutions Supervision (FICI), Chairman Dhakal was found involved as the coordinator of the building construction committee formed for the construction of the bank’s building.
According to the Nepal Rastra Bank, the Unified Directive issued to banks and financial institutions has a clear provision that the Chairman of the Board of Directors cannot be a member or coordinator of any internal committee or sub-committee. However, it has been confirmed from the inspection that Chairman Dhakal participated as the coordinator of the building construction committee against the said provision.
Nepal Rastra Bank (NRB) has warned Chairman of Board of Directors Bharat Raj Dhakal as per Section 100 of Nepal Rastra Bank Act, 2058 BS.
KATHMANDU: Nepal Rastra Bank (NRB) has directed the banks to strictly adhere to the provisions related to corporate governance and to operate the role of Board of Directors as per regulatory limitations and directives.
