47 Applicants To Compete for SEBON Executive Chair as Open Selection Process

A total of 47 candidates have applied for the position of Executive Chairperson of the Securities Board of Nepal (SEBON), marking a significant response to the government’s open competitive selection process.

According to the selection committee, applications were accepted until Monday, and all submissions were received at the secretariat established under the committee for recommending candidates for the SEBON leadership.

The strong number of applications reflects growing interest in the position, particularly after the government decided to move away from politically influenced appointments and adopt a merit-based, open competition system. Officials noted that the transparent process has encouraged wider participation compared to previous appointments.

The application process was conducted through the secretariat located at the Financial Sector Management and Institutional Coordination Division under the Ministry of Finance. The committee had invited applications between Baishakh 15 and Baishakh 21.

A three-member recommendation committee was formed following a Cabinet decision held on Baishakh 8. The committee is led by Vice-Chairperson of the National Planning Commission, Dr. Gunakar Bhatta. Other members include Finance Secretary Ghanashyam Upadhyaya and former banker Bhuwan Kumar Dahal.

The post became vacant after the resignation of then SEBON Chairperson Santosh Shrestha on Baishakh 4.

Following the closure of applications, the committee will now review all 47 candidates and prepare a shortlist based on eligibility, experience, and professional background. From the shortlisted candidates, the committee will recommend at least three names to the government.

The government will then appoint one individual from the recommended list as the Executive Chairperson of SEBON. The appointed chairperson will serve a four-year term.

To qualify for the position, applicants must hold a Master’s degree from a recognized university. They must also have at least seven years of professional experience in areas such as securities market management, capital market development, economics and finance, commerce, management, or law.

Age requirements stipulate that candidates must be at least 30 years old and not exceed 65 years of age at the time of application.

Additionally, individuals convicted of criminal offences related to corruption, money laundering, human trafficking, drug trafficking, or other serious crimes are deemed ineligible for the position.

The appointment of SEBON’s executive leadership is considered crucial for Nepal’s capital market regulation and development. SEBON plays a central role in overseeing securities markets, protecting investor interests, and ensuring transparency in financial markets.

With Nepal’s growing capital market and increasing investor participation, the leadership of SEBON is expected to play a key role in strengthening regulatory frameworks and enhancing market confidence.

The open competition-based selection process is being viewed as a step toward improving governance standards and ensuring that qualified professionals lead key regulatory institutions.