Finance Committee's Meeting Yields Crucial Reforms to Strengthen Nepal's Capital Market and Enhance SEBON's Efficiency

During the meeting held by the Finance Committee yesterday, significant discussions and decisions were made to address key issues related to Nepal's capital market and the functioning of the Securities Board of Nepal (SEBON). The meeting focused on stabilizing the market, enhancing transparency, and implementing necessary legal and institutional reforms to boost investor confidence and ensure the effective management of the securities sector.

Key discussions and decisions made during the meeting include:

1. Improvement of Nepal's Capital Market: Extensive discussions were held on the current instability in Nepal's capital market and its broader economic implications. Various suggestions were presented on measures to stabilize the market and enhance transparency.

2. Appointment of the Chairperson for SEBON: It was decided that a suitable and qualified individual should be appointed as the long-vacant Chairperson of SEBON immediately. This appointment is expected to enhance the board's efficiency and increase confidence in the capital market.

3. Legal Reform Proposals: SEBON was directed to present legal reform measures related to the board within 15 days to the committee. These reforms are anticipated to bring significant improvements to the market.

4. Formation of a Grievance Investigation Subcommittee: A grievance investigation subcommittee was formed under the leadership of the committee's chairperson, with members Rana Kumari Balampaki Magar and Ram Nath Adhikari. This subcommittee will investigate complaints presented to the committee.

5. Banking Offense and Penalty Bill: It was decided to prioritize the "Banking Offense and Penalty" bill, 2081, and move it forward with urgency. This bill will be placed at the top of the committee's agenda for discussion.

6. Next Meeting: The meeting was adjourned until further notice.