Globally, new measures are being introduced to combat Anti- money laundering (AML) and financing of terrorism. The risk posed under non-compliance of AML/CFT has been challenging for banking and financial institution to maintain, as it has been increasingly complex with advent of new trends and issue related to trade-based money laundering , modern payment products and AML risk management.
Nepal Rastra Bank (NRB) is the Central Bank of Nepal and regulatory body of commercial bank and financial institutions. One of the NRB’s objectives as set out in NRB Act, 2002 is to maintain financial stability. In order to achieve this objective, NRB has issued 23 directives to Banks and Financial Institutions. Out this, directives no. 2, 3 and 12 are related to credit management, single obligor limit and blacklisting requirement. These directives are most important for credit department and revisions/amendments in these directives are made annually.
Nepal Rastra Bank, the central bank of Nepal has recently announced the monetary policy for the fiscal year 2074-75. The context of the country’s economy is going through a massive restructuring process in the background that the country is going to a federal structure. So the economy is going through a major transition owing to the political restructuring process.
Role of the Board of Directors (BoD) is paramount in driving the Bank by maintaining high standard of corporate governance, safeguarding the interest of the depositors and meeting the expectations of the stakeholders.
Whilst BoD delegates the authority to the Director(s), CEO or any other officials, the ultimate responsibility lies on them, which is substantiated by NRB Directives No 6/072, Section No 2 (e).
Human capital is unreplicable edge in any business which however must be carefully managed, motivated and moulded for effective organization output.
Economic growth of an emerging economy and developing country critically depends on the health and spread of banking industry. Banks being companies are run by their respective boards. As major decisions , including strategic business decisions, are taken by these boards, it is imperative that the boards are well constituted so as to reflect the various stakeholders and the business that they support.
Role of the Board of Directors (BoD) is paramount in driving the Bank by maintaining high standard of corporate governance, safeguarding the interest of the depositors and meeting the expectations of the stakeholders.
Whilst BoD delegates the authority to the Director(s), CEO or any other officials, the ultimate responsibility lies on them, which is substantiated by NRB Directives No 6/072, Section No 2 (e).
The recently promulgated BAFIA 2017 has redefind some of the important provisions which has direct implication to the business and governance of BFIs. It is very contextual to organize a seminar to review and reflect on the opportunities and challenges the BAFIA brings into the industry and its stakeholders.
Keeping this in mind, NBI proudly announce half day seminar on “BAFIA 2017” for Board of Directors, senior management and all stakeholders to review and assess opportunity and challenges in this regard.
This Executive Programme will be conducted in July and August for about 15 - 20 bank members from Nepal, in the premises of Frankfurt School of Finance & Management, Germany. It will focus on Bank Management, Risk Management, Governance and Bank Technology.
Additionally, industry site visitations to German banks will give an insight in the relevance of the mentioned topics for the banking business.
