Kathmandu, Oct. 8
The Stock Brokers Association of Nepal
(SBAN) has welcomed the report submitted by the Capital Market Reform Taskforce
and called for its immediate implementation.
In a statement issued on Wednesday, the
SBAN urged the concerned authorities to act on it without delay. The report was
prepared under the directive of Finance Minister Rameshore Khanal.
The taskforce, formed under the
coordination of Acting Executive Director of the Securities Board of Nepal
(SEBON), Rupesh KC, was constituted at the direction of Minister Khanal to
provide recommendations for the reform of the capital market.
Following the submission of the report,
Minister Khanal directed the SEBON, Nepal Rastra Bank, Nepal Stock Exchange
(NEPSE), and other relevant agencies to take necessary actions. After the
directive was issued by the Ministry of Finance, SBAN also demanded prompt
implementation of the measures required for capital market reform.
SBAN's President Sagar Dhakal said that the
proactive approach shown by Minister Khanal since his appointment would serve
as a milestone in sustainable development and reform of Nepal’s capital market.
“The taskforce has made dozens of important
recommendations for the current growth and development of the capital market —
including removing the limit on share-backed loans, lifting the ban on banks
and financial institutions from buying and selling shares, introducing new
instruments, and restructuring and privatising NEPSE,” he said.
Dhakal further said that although
taskforces had been formed in the past in various sectors to submit reform measures,
implementation had often proved difficult. “This time, the recommendations
provided for capital market reform must be executed without delay,” he
stressed.
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