At the Sejon program, coordinator Karki demanded their immediate return, saying that sending directors to Sebon and Nepse would lead to major deviations in regulation and conflict of interest.
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Rewat Bahadur Karki, coordinator of the Banking Sector Reform Suggestion Task Force, has said that the directors sent to the Nepal Stock Exchange (NEPSE) by Nepal Rastra Bank should be returned immediately.
Karki said that sending directors to the Securities and Exchange Board of Nepal, the regulatory body of the capital market, and the regulator of the stock exchange, the NEPSE, would lead to a conflict of interest.
At an interaction program organized by the Society of Economic Journalists (SEJON) on Monday, coordinator Karki said that sending directors to the NEPSE in a way that would lead to major deviations and conflicts of interest would not be acceptable.
‘Even after 30/32 years of the establishment of the NEPSE, having one director representing the regulator SEBON and two directors representing the NEPSE from the beginning would lead to major deviations and conflicts of interest,’ coordinator Karki said. ‘When SEBON takes action against the NEPSE, there is a problem of how to take action against the directors of Nepal Rastra Bank. A serious problem has arisen after Nepal Rastra Bank took on the form of both a witch and a sorcerer.’ Similarly, Karki said that bringing a policy that affects the capital market at all times without the advice and coordination of SEBON is against basic principles and liberality. At the
program, Nepal Bankers Association President Santosh Koirala said that the banking sector has been under attack from all sides in recent months. He said that although the banking sector is clean, transparent and well-governed, the banking sector has been targeted to fulfill someone's political objectives. He said that the Bankers Association has strong objections to the trend of targeting the banking sector even when it is working honestly.
