NSM allowed to appoint CEO
Fri, Aug 12, 2011 12:00 AM on Others,
KATHMANDU, AUG 12 -
Nepal Rastra Bank (NRB) has granted approval to the troubled Nepal Share Market and Finance (NSMF) to appoint a chief executive officer for one year to speed up its recovery process.
The central bank’s board meeting held on Thursday also decided to allow crisis-ridden Gurkha Development Bank to recruit an officer level staff given a number of its staffers left the company.
NSMF has remained headless since the resignation and subsequent absconding of its former executive chairman Yogendra Prasad Shrestha to avoid detention for banking fraud and other financial misappropriations. “The central bank can also open door for them to recruit additional new staffers,” said a board member.
According to an NRB official, NSMF is also failing to recover loans.
Source: Kantipur
Nepal Rastra Bank (NRB) has granted approval to the troubled Nepal Share Market and Finance (NSMF) to appoint a chief executive officer for one year to speed up its recovery process.
The central bank’s board meeting held on Thursday also decided to allow crisis-ridden Gurkha Development Bank to recruit an officer level staff given a number of its staffers left the company.
NSMF has remained headless since the resignation and subsequent absconding of its former executive chairman Yogendra Prasad Shrestha to avoid detention for banking fraud and other financial misappropriations. “The central bank can also open door for them to recruit additional new staffers,” said a board member.
According to an NRB official, NSMF is also failing to recover loans.
Source: Kantipur
