Finance minister urges SEBON to implement quality regulation
KATHMANDU: Finance Minister Dr Swarnim Wagle has urged the Securities Board of Nepal (SEBON) to implement quality regulation to ensure the sustainable development of the capital market.
Speaking after an inspection visit to SEBON on Monday, Minister Dr Wagle said the regulator should maintain high morale and transparency while keeping investors’ interests at the centre. He said the appointment of new leadership at SEBON has had a positive impact on the market.
Dr Wagle said SEBON has a role as important as that of Nepal Rastra Bank (NRB) and urged the regulator to involve all stakeholders when drafting related laws and regulations. “The time has come to make the market more convincing and competitive by assuring the security of investors' property,” he said.
On the occasion, SEBON Chairman Dr Gopal Prasad Bhatta told the visiting team that a blueprint for the capital market has been prepared and implementation is underway. He said a new directive will be issued by mid-August on IPO releases in the primary and secondary markets, intra-day transactions, margin lending and short selling after consultations with stakeholders.
A high-level team led by Finance Minister Dr Wagle carried out the inspection visit to SEBON.
(With inputs from RSS)
