It’s official: GBIME replaces BOK for banking service in NEPSE

ShareSansar, Nov 16:

Global IME Bank Ltd (GBIME) has been appointed as clearing bank for share transaction in Nepal Stock Exchange Ltd. (NEPSE).

Earlier, NEPSE had issued letter of intent (EOI) mentioning the following criteria – should be class ‘A’ commercial bank, experience in executing government transactions, having strong branch network with sound capital base, healthy credit rating, member with CDS among others-- on 12th  of Bhadra, 2071 in the national daily newspaper, seeking for the clearing bank.

Through fair competition, Global IME Bank was selected for the job among numerous applicants.

NEPSE has asked the concerned stakeholders to make the necessary arrangement to do such transaction from Global IME within 60 days from the date of notice published on last Friday i.e. on 28th kartik 2071.

Currently, all the banking service transactions related to NEPSE are being carried out by Bank of Kathmandu, which has been the clearing bank for more than a decade time. With this appointment, Global IME will be replacing Bank of Kathmandu.