CDS and Clearing takes another leap into digitization; Ownership transfer among family members directly from licensed DPs

Thu, Oct 11, 2018 3:19 PM on Corporate, External Media, Latest, Stock Market,
CDS and Cl...

CDS and Clearing has been in the forefront of digitizing the Nepali capital market by continuously bringing in new services to enhance the experience of investors. Continuing the trend, CDS and Clearing has made it possible for investors to directly transfer their ownership among family members from DP (DPs are licensed banks).

Prior to this, to transfer ownership one had to come to Kathmandu and visit Nepal Stock Exchange (NEPSE). But now the DP’s have the right to provide this service right from their branches all over the country. The DP will initiate the verification process and will come to CDS and Clearing for approval and then will be transferred electronically without any hassles.

The spokesperson of CDS and Clearing Mr Suresh K. Neupane added, "The banks have the right, but it is up to them regarding how many or which branch they provide this service from. So far we've seen almost all banks providing this service."