Attention of private sector in arresting bankers

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The private sector has said that its attention has been drawn to the incident of the arrest of employees of banks and financial institutions. It is mentioned in the joint statement issued by the three organizations that the umbrella organization of private sector businessmen, Federation of Nepal Industry and Commerce, Confederation of Nepal Industry and Nepal Chamber of Commerce have drawn serious attention to this matter.

Confederation of Banks and Financial Institutions Nepal (CIBIFIN) has also issued a statement on this matter and said that it has drawn serious attention.

"Banks and financial institutions have been conducting deposit collection and credit investment activities within their respective jurisdictions under the existing laws and the directives issued by the Central Bank," the joint statement said, "Banks and It is understood that all employees and the board of directors act with good intentions in accordance with the prescribed principles while making any investment decisions in financial institutions.'

Even those who are not directly involved in any incident of banks and financial institutions working under the existing legal system, policies and directives of the regulatory bodies, because of their official position or signing documents, ignoring the work they did with good intentions, with the intention of first detaining and listening It is also mentioned in the statement that it is seen that it has been searched. "We request all concerned parties to pay attention to the fact that such actions will affect the efficiency of bankers, their inability to make decisions, and their morale will also affect the expansion of credit, and its impact may be on the growth and development of the economy as a whole," the joint statement said.

Cibifin has objected that it is wrong for a professional to be arrested and detained in the style of a criminal without in-depth study and information about the prevailing rules and international banking practices regarding mortgage and lending. "It is clear that the bank's activities are closely monitored by the regulatory body," Sibifin said in a statement. It is a well-known fact that when investing in commercial/commercial loans, infrastructure and development construction projects, loans are made based on the project's feasibility, cost, collateral, balance, amount to be borrowed/raised and potential income. But taking control of a professional based on superficial information about mortgages and loans has made the entire banking sector panicked and scared. Therefore, Cibifin has informed that employees should not be arrested and detained until routine tasks such as lending are resolved.