13 in fray for top Sebon post
KATHMANDU, OCT 12 -
University professors, a former central bank executive director and the current chief of the Nepal Stock Exchange (Nepse) are among the 13 candidates who have applied for the job of chairman of the Securities Board of Nepal (Sebon), the capital market’s regulatory body.
Sources at the Ministry of Finance (MoF) said that the applicants included stock analyst Rabindra Bhattarai, head of Sebon’s surveillance department Niraj Giri, head of Sebon’s planning and development department Nabaraj Adhikari, assistant professor at Kathmandu University Narayan Prasad Poudel, former executive director at the Local Development Training Academy Babu Ram Shrestha and CEO of Nepse Shanker Man Singh, among others. The deadline for submitting applications expired on Sunday.
The post has remained vacant for the last couple of months after chairman Surbir Poudel’s term expired. The cabinet has formed a three-member selection committee headed by National Planning Commission member Janak Raj Shah and including finance secretary Krishna Hari Baskota and former Sebon chairman Surbir Poudel as members.
The appointment of Sebon’s chairman is being done through open competition for the first time. Earlier, the chief used to be a political appointee.
According to Shah, the committee will conduct the selection process on fast track. “We will study the proposals submitted by the applicants and evaluate them on the basis of their vision and road map, their academic qualification and track record based on past performance,” said Shah, “Applicants will be given points on the basis of these three criteria and the highest scorer will be selected.”
The selection committee is expected to complete the entire process and submit its recommendation by this week. The committee will recommend three names to the cabinet which will choose one among them.
As per the Securities Act 2007, the chairman of Sebon should have at least a Master’s degree and seven years of work experience in the field of stock exchange management, capital market development among others.
According to Shah, the selection process is different from the past when it was more like head hunting as appointees were picked from the market instead of inviting applications.
“Since the entire selection process is governed by the act and the finance minister has also pledged that the hiring would be done through competition, we are confident there will be fair competition.”
Source: Kantipur
University professors, a former central bank executive director and the current chief of the Nepal Stock Exchange (Nepse) are among the 13 candidates who have applied for the job of chairman of the Securities Board of Nepal (Sebon), the capital market’s regulatory body.
Sources at the Ministry of Finance (MoF) said that the applicants included stock analyst Rabindra Bhattarai, head of Sebon’s surveillance department Niraj Giri, head of Sebon’s planning and development department Nabaraj Adhikari, assistant professor at Kathmandu University Narayan Prasad Poudel, former executive director at the Local Development Training Academy Babu Ram Shrestha and CEO of Nepse Shanker Man Singh, among others. The deadline for submitting applications expired on Sunday.
The post has remained vacant for the last couple of months after chairman Surbir Poudel’s term expired. The cabinet has formed a three-member selection committee headed by National Planning Commission member Janak Raj Shah and including finance secretary Krishna Hari Baskota and former Sebon chairman Surbir Poudel as members.
The appointment of Sebon’s chairman is being done through open competition for the first time. Earlier, the chief used to be a political appointee.
According to Shah, the committee will conduct the selection process on fast track. “We will study the proposals submitted by the applicants and evaluate them on the basis of their vision and road map, their academic qualification and track record based on past performance,” said Shah, “Applicants will be given points on the basis of these three criteria and the highest scorer will be selected.”
The selection committee is expected to complete the entire process and submit its recommendation by this week. The committee will recommend three names to the cabinet which will choose one among them.
As per the Securities Act 2007, the chairman of Sebon should have at least a Master’s degree and seven years of work experience in the field of stock exchange management, capital market development among others.
According to Shah, the selection process is different from the past when it was more like head hunting as appointees were picked from the market instead of inviting applications.
“Since the entire selection process is governed by the act and the finance minister has also pledged that the hiring would be done through competition, we are confident there will be fair competition.”
Source: Kantipur
