ASBA system to be implemented from Forward Microfinance IPO; service from 73 districts and 1,507 branches all over Nepal

21 commercial banks and 9 development banks have received approval for Application Supported by Blocked Amount (ASBA) system from SEBON. SEBON aims to implement the system from the upcoming IPO of Forward Microfinance Bittiya Sanstha Ltd. from Magh 9, 2073. As per the press release issued by SEBON today, the service can be availed from 1,507 branches of the approved banks from 73 districts in Nepal (except Mugu and Bajura). The system will be optional for now, and will gradually be implemented and made compulsory.