Finance Minister Wagle Urges Law Alignment to Fix Banking Conflict

Finance Minister Dr. Swarnim Wagle stated that rules on disqualifying bank directors must be included in the Bank and Financial Institutions Act (BAFIA), not just the Nepal Rastra Bank (NRB) Act, to avoid legal conflicts.

To resolve this, the Finance Ministry has proposed amending Section 18 of BAFIA through the 'Some Nepal Laws Amendment Bill'. Current rules bar individuals penalised by regulators from serving as directors for five years, but lawmakers noted that minor reprimands could accidentally trigger unfair disqualifications. Ministry officials confirmed work is underway to align both laws.