Anti Money Laundering (AML) laws key to keep the financial system clean, according to the bankers. Addressing the third episode of annual Anti Money Laundering (AML) conference in Kathmandu on Thursday, organized by National Banking Institute (NBI), Nepal Bankers Association (NBA) president Gyanendra Dhungana pointed out the significance of AML as a global initiation that needs to be taken care of in the well being of financial system and economy of the country.
Global IME Bank has opened a representative, contact office at Aldershot, Hampshire in United Kingdom (UK) on Sunday. Global IME Bank – amongst one of the leading commercial banks in Nepal – has become the first one to open a representative office in UK, according to the bank. The Governor of Nepal Rastra Bank (NRB) Dr. Chiranjibi Nepal formally inaugurated the representative, contact office during a ceremony.
Only 40 percent country’s population have access to financial services.According to Information Officer at Nepal Rastra Bank (NRB) Shambhunath Dhungana, financial literacy has been limited to 18 percent across the nation as most of the financial institutions are centered on urban areas.
As part of its 'Card Loyalty Programme', Nepal Investment bank Ltd (NIBL) and its Visa associate member banks on Sunday launched a campaign to offer its visa domestic cardholders access to exclusive cash back rewards when using their Visa debit or credit cards for all purchases.
The 31stAGM of Standard Chartered Bank Nepal, chaired by Jitender Arora, Chairman of the Bank, on Wednesday approved payment of cash dividend of 5.26 percent (for tax purposes) and bonus shares at the rate of 100 percent. Standard Chartered has recorded an operating profit and net profit of Rs 1.98 billion and Rs 1.42 billion respectively for the financial year 2016-17. As at the close of the financial year 2016-17, the bank was able to post a healthy growth of 25 percent on its risk assets over the previous year to reach Rs 39.73 billion.
NIC ASIA Capital – a wholly owned subsidiary company of NIC Asia Bank – is going to issue its first mutual fund scheme 'NIC ASIA Growth Fund' from January 16. Securities Board of Nepal (Sebon) has granted an approval on December 26.
As a part of its Corporate Social Responsibility (CSR), the Nabil Foundation has sponsored of the education of girl children for a year at a cost of Rs 120,000 at Shree Gargi Kanya Gurukul Pratisthan.
National Banking Institute (NBI) has conducted its fourth Janbi examination on December 22-23. The examination was conducted in 9 different cities across the country whereby more than 500 banking professionals attended the examinations.
Everest Bank – amid a function held at its head office on Wednesday – lunched a new product 'Everest Special Savings' with highly attractive features. The key attractions of the offering are Accidental Death Insurance of Rs 500,000 and Medical Insurance of Rs 100,000 besides free offering of Debit Card, Internet/SMS banking, ASBA, DEMAT and 50 percent discount on Locker, Credit Card with attractive interest rate of 4 percent per annum, according to the bank.
Siddhartha Bank has established a new branch at Banepa Bazaar of Banepa. The branch came into operation from December 17, according to a press note from the bank.
Nabil Bank has signed a Memorandum of Understanding (MoU) with National Banking Institute (NBI) for strategic alliance, whereby NBI would provide exclusively customized training programmes to the bank for human capital development during the fiscal year 2074-75.