CBFIN Determined to Use Legal Authority for Protection and Right of Depositors, Borrowers & Stakeholders of BFIs

Confederation of Commercial Banks and Financial Institutions Nepal (CBFIN) has stated that the CBFIN is fully united, committed, and determined to use any legal authority provided by the current law and take any drastic measures for the protection of the rights and interests of the depositors, borrowers, and other stakeholders of the Bank and Financial Institutions.

The Confederation claims that this decision was made as a result of the ongoing attacks by various people, companies, and groups on banks and financial institutions, as well as their assets, credit, and staff, as well as the rise in criminal activities.

According to the Confederation, from this point forward, any individual, group, or association acting in the name of a bank financial institution, including its employees, will be prohibited from doing anything that could jeopardize the institution's reputation, honor, or property, obstruct banking operations, or confuse the public about banks and financial institutions. Additionally, the Confederation has made the decision to report and file a complaint with the appropriate agency for action to be taken against such activities to the extent permitted by the applicable law.