Kathmandu. The Confederation of Banks and Financial Institutions Nepal (CIBFIN) has warmly welcomed the suggestion committee formed at the special initiative of the newly appointed Governor of Nepal Rastra Bank to identify the objective problems and challenges of the banking sector and submit suggestions with concrete solutions. For the first time in the banking history of Nepal, the formation of a sub-committee at the national level focusing on the reform of the banking sector is a historic step.
In order to reach the top of the problems and challenges arising in the banking sector through intensive discussion and dialogue with the stakeholders, to understand the real situation, to make the on-site visit and study, management/ supervision being done by the Nepal Rastra Bank effective and review the past policies, bring monetary policy based on the spirit of the recently issued finance policy, current needs and expectations and address the problems of the economy and financial sector. Cibifin believes that the country has now entered an era of economic and banking reforms and sustainable development through reform-oriented initiatives.
The sub-committee, comprising eminent subject matter experts who have in-depth knowledge and experience in the economic and banking sector, outside the central bank and also experience in the private sector, will identify the recent developments in the economy and banking sector, objective situation, problems and challenges through discussion with the stakeholders and give concrete suggestions, laying the foundation for regulatory reforms, systemic changes and guidance for policy formulation. Sibifin is confident of it.
The Sub-Committee has pledged to participate in every study, research, discussion and dialogue process and to provide necessary coordination, facilitation and support to the Sub-Committee with rational suggestions based on investigative studies and to play an integral role in the implementation of far-reaching plans and policies taken and taken by the parent organization – Nepal Rastra Bank.
