Special Task force Made Up Of Officials From NRB, SEBON, and MoF Has Been Formed To Address The Capital Market Issues
On the 30th anniversary of the Securities Exchange Board of Nepal (SEBON), the Ministry of Finance had formed a task force to study the solutions to the problems seen in the capital market and financial sector. The Finance Minister had announced the formation of a four-member team. The task force consisted of four members will be coordinated by the Executive Director of the SEBON and a Deputy Secretary from the Ministry of Finance will be appointed as a member of the task force. Similarly, another member of NRB and the member secretary of the task force will be a members of the board.
Finance Minister also underlined the need to strengthen regulators' ability to defend investors' interests, as well as the need to improve the reliability of automated trading systems during the anniversary. The four-member committee had recommended that legal arrangements be made for non-resident Nepalis to invest in the secondary market, that a 10% share in the primary issuance of securities be reserved for Nepalis who have gone abroad for work, that a company with a capital of Rs. 1 Arba or a company making transactions of Rs. 5 Arba be formed to make public issue, and that other relevant capital reform arrangements to be made as soon as possible
According to Rupesh KC, Deputy Executive Director of the SEBON, the task group has been constituted to investigate and make recommendations for the capital market financial sector's current difficulties. "The goal is to investigate the current state of the capital market and financial sector. The task force is still not finished "KC, the Deputy Executive Director stated. "Before the first meeting, the task force will be completed."
