Strengthen oversight to ensure good governance practices in banking sector
Nepal, April 17 -- The integrity of financial institutions is critically important for the economic stability of any country. In Nepal, where commercial banks play a critical role in the nation's financial infrastructure, the importance of ensuring adherence to good governance practices cannot be underestimated. Recent findings from the Nepal Rastra Bank (NRB) in its 'Bank Supervision Report 2022/23' have raised significant concerns about the operational and systemic integrity of these institutions. The report unveils a troubling picture of the banking landscape, characterized by widespread non-compliance with established governance practices. Issues range from inadequate risk management systems and lack of essential policy implementation...
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