Kathmandu. Stock Brokers Association of Nepal (SBAN) has welcomed the report submitted by the Capital Market Reform Taskforce.
Welcoming the report submitted by the task force formed under the direction of Finance Minister Rameshwor Khanal, the government has demanded the bodies concerned for its immediate implementation. A task force was formed under the coordination of Acting Executive Director of the Securities Board of Nepal (SEBON) Rupesh KC to give suggestions for capital market reforms.
After the task force submitted its report, Finance Minister Khanal directed the Securities Board of Nepal, Nepal Rastra Bank, Nepal Stock Exchange (NEPSE) and other bodies to do the same. Following the directive, SBAN has also demanded immediate implementation of necessary provisions for capital market reform.
Stock Brokers Association of Nepal President Sagar Dhakal said that Khanal’s initiation for sustainable development and reform of capital market would prove to be a milestone in Nepal’s capital market reform with the appointment of Finance Minister. “The task force has made dozens of suggestions including removing the limit on share collateral loan, removing the restriction on the banks and financial institutions in the purchase and selling of shares, bringing in new instruments and privatizing NEPSE with restructuring for the growth and development of the capital market in the current situation, which is very welcome,” he said, adding, “We demand the Nepal Rastra Bank, Securities Board of Nepal, NEPSE and other stakeholders to immediately implement the recommendations presented in this report.” g.
Dhakal said that the suggestions given for capital market reform should be implemented immediately, saying that although a taskforce was formed for the growth and development of any sector in the past, it was difficult to implement it. “On behalf of the Brokers Association, we would like to thank the Finance Minister for the way he took the initiative for capital market reform,” he said, adding, “The future of Nepal’s capital market will be very bright if the same speed is implemented.” ’
