Parliamentary Intervention and Our Board Meetings are separate: CEO of Mega Bank

After the directive from the Nepal Rastra Bank regarding the increment of paid up capital of Bank and Financial Institution, few Constituent Assembly (CA) members took the issue to the parliament. Honorable CA member Dr. Duman Thapa (CPN-UML) is a fierce critic of this directive from the NRB. Dr. Thapa is also a Public director (Promoter) of Mega Bank Nepal.  Here is what Anil Shah, CEO of Mega Bank, had to say regarding the statement put forth by Dr. Thapa in the parliament: "Our Hon. Dr. Duman Thapa is public director (promoter) of this bank. He is also a member of Constituent Assembly.  As of now, there is no regulation barring CA member from being a BOD member of a Bank and financial institution. As a promoter he might be concerned regarding the directive from (Nepal) Rastra Bank to increase the paid up capital. In my point of view the parliamentary intervention and our board meetings regarding this issue are separate things. Dr. Thapa's opinion in the parliament is his own. Our board has formulated and approved a proposal regarding reaching the new paid up capital of Rs 8 billion in two years." Mega Bank last traded price stood at Rs 395 on 28th January, 2015 in NEPSE. MEGA had signed a memorandum of understanding with Paschimanchal Bikas Bank Limited (PDBL) for merger on 28 Januray, 2015. Thus the trading of both BFIs has been halted.