Rastra Bank directs banks to include various disclosures to annual report; Expenses from CSR to employee training to be revealed

Nepal Rastra Bank (NRB), with an aim to make the banking sector more transparent, has directed the Banks to disclose the names of shareholders owning more than 0.5% of total shares. This disclosure used to be made by banks in the previous accounting standard but post the adaptation of Nepal Financial Reporting Standard (NFRS) the continuum was broken.

Nonetheless, NRB has directed the banks to re-continue it along with disclosure on few more grounds. Now, the banks need to reveal the funds spent on Corporate Social Responsibility (CSR), employee training & development and so on in a separate table along with expenses associated with charity, entertainment, transportation, insurance and advertisement.