Nepal Bankers' Association suggests Sub-finance committee to provide broker license to banks; Read the full letter
Sun, Jan 12, 2020 12:15 PM on Economy, External Media, Latest, Stock Market,
Nepal Bankers' Association (NBA) has been lobbying for broker license to banks for quite some time now. The Nepal Stock Exchange (NEPSE) had also collected some applications regarding the same but nothing concrete has come out of it yet.
Therefore, NBA has submitted a 7-points suggestion to the sub-committee formed by the Finance Committee.
The sub-committee formed to study the capital market and money market was suggested by the NBA to grant broker licenses to banks. The main argument from the NBA was that given the widespread presence of commercial banks all over the country, providing broker licenses to banks will allow more people to participate in the capital market.
The letter highlights factors such as Financial reach, Corporate governance, International practice, Capacity of banks, Contribution to economy and CAMELS rating to support their demand.
You can read the full letter below:
