The central bank has brought strict code of conduct for its
employees, who will be assigned to supervise the banks and financial
institutions.
The Nepal Rastra Bank Monitoring and Supervision Bylaw 2070 has
barred the supervisors from purchasing shares of banks and financial institutions
from the secondary market, taking part in parties except public events and
using the vehicles, taking loans at concessional rates, and accept presents of and
from the banks and financial institutions.
The central bank has brought the bylaw that states that one has to
inform the central bank, if a supervisor or family members have
promoters’ shares or more than one per cent share in any bank and financial institution,
or if the supervisor’s family members hold the post of director, chief
executive officer, senior official or business partner.
The central bank brought the
code of conduct as the supervisors on special job need integrity. The move also
aims at making the central bank more accountable and discourage the misuse of
power.
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