Nabil Bank dismisses appointment of Anil Shah as CEO citing ‘cooling period’ of 6 months
Nabil Bank has decided to cancel the appointment of Mr Anil Shah as their CEO in response to the directive regarding ‘cooling period’ issued by Nepal Rastra Bank.
As per the directives issued by Nepal Rastra Bank, a person who has been a CEO of a banking institution cannot join another banking institution as a CEO before the cooling period of 6 months.
NRB had implemented the directive from Poush 13, 2074 and Mr Shah was also appointed by Nabil Bank on the same day.
He had completed his 2 terms of tenure in Mega Bank and had resigned on Mangsir 23, 2074. So, with the application of this directive he will not be able to be appointed as a CEO of any Banks and Financial Institutions till Jestha 22, 2075.
Rastra Bank had also implemented a directive stating that the post of CEO cannot be vacant for more than a period of 3 months. So, it has been reported that the appointment of Mr Shah has been cancelled.
While he was in Mega Bank, he had contracted with Century Commercial Bank for a period of 4 years but had decided to breach the contract regarding disagreement in terms of remuneration. But if rumors are to be considered, the offer from Nabil Bank had made him do so.
NRB had implemented the directive from Poush 13, 2074 and Mr Shah was also appointed by Nabil Bank on the same day.
He had completed his 2 terms of tenure in Mega Bank and had resigned on Mangsir 23, 2074. So, with the application of this directive he will not be able to be appointed as a CEO of any Banks and Financial Institutions till Jestha 22, 2075.
Rastra Bank had also implemented a directive stating that the post of CEO cannot be vacant for more than a period of 3 months. So, it has been reported that the appointment of Mr Shah has been cancelled.
While he was in Mega Bank, he had contracted with Century Commercial Bank for a period of 4 years but had decided to breach the contract regarding disagreement in terms of remuneration. But if rumors are to be considered, the offer from Nabil Bank had made him do so.
