Finance minister meets SBAN members, discusses measures to strengthen capital market

KATHMANDU: Finance Minister Dr Swarnim Wagle met the executive committee and former president of Stock Brokers' Association of Nepal (SBAN) on Monday to receive suggestions and discuss measures to strengthen the capital market.

During the meeting at the Ministry of Finance in Singha Durbar, Minister Wagle told SBAN members that the government will facilitate institutional investors and protect market participants. He said, “No one should panic” because the capital market is “inherently a transparent professional sector.” He said the government intends to broaden and support the private sector, mentioning it “provides employment to nine out of 10 people” and that the current administration is “the most liberal one since the year 2048 BS.”

The minister said the capital market is a manifesto priority and wants other sectors to follow its example. He called for a more efficient Securities Board of Nepal (SEBON) and signalled plans to restructure the Nepal Stock Exchange (NEPSE). The finance minister warned that any attempt to manipulate the share market will be regulated and underlined that “the stick of money laundering enforcement will not be wielded only against the share market.”

Wagle sought to reassure investors about enforcement, saying transparency in tax and market information means “there is no reason for anyone to be afraid,” and that the government does not intend to make selective arrests or disrupt the market.

On the occasion, representatives of SBAN, led by General Secretary Bhaktiram Ghimire, urged the minister to restore confidence among small investors, whose morale they said has declined. They asked for a joint press conference with NEPSE and SEBON to rebuild trust. The Finance Minister said he shares responsibility for creating a trustworthy capital market and will consider the proposal in the coming days.

SBAN members also recommended financial penalties rather than arrests for those who break market rules. 

The meeting concluded with an agreement to continue dialogue between the SBAN and the ministry.