Successful Conclusion of CBFIN Meeting: Strengthening Measures to Protect Banks and Financial Institutions in Nepal
The Confederation of Banks and Financial Institutions Nepal (CBFIN) successfully concluded its seventh meeting on Thursday, 14th Asar 2080. The primary focus of the meeting was addressing the concerning issue of physical attacks and illegal activities targeting banks, financial institutions, their assets, credit, and employees.
This notice is being published to inform all stakeholders about the decisions made during the meeting. The CBFIN recognizes the detrimental impact caused by various individuals, organizations, and groups who, under false pretences, damage the reputation, dignity, credibility, or property of banks and financial institutions. They create obstacles in banking operations, spread confusion, and discourage the repayment of loans obtained from these institutions.
Such activities, including physical assaults on banking employees, manslaughter, or any act that jeopardizes their safety and ability to perform their duties, continue to occur across the country. Therefore, it is essential to take legal action against individuals and organizations involved in such activities.
The CBFIN, along with its affiliated banks and financial institutions, stands united, committed, and determined to protect the rights and interests of depositors, borrowers, and all stakeholders. This includes lodging complaints with the relevant authorities to ensure strict action is taken.
In addition, CBFIN requests the Honorable Prime Minister, Honorable Minister of Home Affairs, Honorable Home Secretary, Inspector General of Police, and Chief District Officers of all 77 districts to ensure effective security arrangements for banks, financial institutions, and their employees. It is crucial that the government and related agencies create a safe and secure environment that allows banks and financial institutions to carry out their duties and responsibilities as directed by the laws and regulations.
Failure to provide such an environment could result in an alarming situation where licensed banks and financial institutions authorized by Nepal Rastra Bank may be compelled to suspend their services. This would lead to a severe crisis, adversely impacting the rights and interests of all stakeholders, including depositors and borrowers, and ultimately causing an unimaginable economic downfall.
The meeting also urges the Government of Nepal and all relevant authorities to take this matter seriously and prioritize the protection and promotion of the banking sector, thereby safeguarding the overall welfare of the country's economy.
