NEPSE Opens Applications for Chief Executive Officer; Finance Ministry Invites Qualified Candidates

The Government of Nepal has formally initiated the recruitment process for the vacant post of Chief Executive Officer (CEO) of the Nepal Stock Exchange (NEPSE), inviting applications from qualified Nepali citizens through an open competitive selection process.

A public notice published by the Selection and Recommendation Committee formed to appoint the CEO states that interested candidates must submit their applications within 15 days from the date of publication. Applications, along with a sealed business action plan, must be submitted during office hours to the Financial Sector Management and Corporation Coordination Division under the Ministry of Finance at Singha Durbar, Kathmandu.

The recruitment process follows the recently approved Procedure for the Selection and Recommendation of the Chief Executive Officer of Nepal Stock Exchange Limited, 2083.

According to the vacancy notice, candidates must possess at least a Master's degree from a recognised institution in Economics, Commerce, Finance, Management, Information Technology, Business, or Law, or hold a Chartered Accountancy (CA) qualification or an equivalent degree.

Applicants are also required to have a minimum of 15 years of professional experience in the capital market, financial sector, or management, including at least seven years in a managerial position.

The notice clarifies that a managerial position refers to at least a Second Class Officer level in the Government of Nepal or an equivalent role, or executive leadership positions up to two levels below the chief executive in a company or organised institution.

Applicants must be Nepali citizens aged between 30 and 65 years as of the application deadline.

In addition, candidates must not be disqualified under the CEO Selection Procedure, 2083, or the Standards for Appointment and Nomination of Office Bearers and Members of Public Bodies under the Ministry of Finance, 2073 (as amended).

The notice states that the following individuals are ineligible:
1. Non-Nepali citizens.
2. Persons convicted of corruption, money laundering, human trafficking, narcotics offences, crimes involving archaeological artefacts or protected wildlife, or other criminal offences involving moral turpitude.
3. Individuals blacklisted under prevailing laws who have not completed three years since being removed from the blacklist.
4. Persons holding permanent residency in a foreign country.
5. Individuals currently engaged in contractual work with a public institution in the capacity of an executive head.
6. Persons declared mentally unfit.

Besides the standard application documents, applicants are required to submit a detailed business action plan outlining their vision and strategy for leading Nepal's only stock exchange.

The business action plan must be submitted in three sealed copies. The outer envelope must clearly mention the applicant's name and indicate that it contains the application and business action plan for the post of NEPSE CEO.

Applicants must also submit all documents specified under the CEO Selection Procedure, including self-certified copies of academic and professional certificates, prescribed application forms, and two passport-sized photographs.

Candidates must deposit a non-refundable application fee of Rs. 5,000 at the designated revenue account of the Ministry of Finance through the Singha Durbar branch of Rastriya Banijya Bank and submit the original payment voucher along with the application.

The selected CEO will receive salary, allowances, and other benefits as determined by the Government of Nepal.

The Selection and Recommendation Committee will assess applicants based on their academic qualifications, professional experience, business action plan, and presentation before recommending suitable candidates for appointment.

The committee has reserved the right to reject any application with or without assigning reasons. It has also warned that any applicant found submitting false information or forged documents will have their application cancelled and may face legal action under prevailing laws.

The vacancy marks the formal commencement of the process to appoint a new chief executive for NEPSE, a key institution in Nepal's capital market that has been operating without a permanent CEO.