Santosh Mainali to be Stock Brokers Association of Nepal's Chairman via unanimous decision; What are the challenges and focus areas?

Although the election for the new chairman of Stock Brokers Association of Nepal was scheduled for today, Santosh Mainali has been chosen to be the new chairman by unanimous decision.

Mainali is the chairman of Secured Securities, broker 36.

Similarly, it has been agreed that the current general secretary Dharmaraj Sapkota will be the vice-chairman, and the current treasurer Gunanidhi Bhusal will be the general secretary, according to a broker source.

Mr. Ranabhat, the director of Kohinoor Securities, is the chairman of the association at the present. He was elected in the post for a tenure of two years by the 24th AGM. When asked why Mainali was the first choice for all the broker members, Ranabhat said that he deserves the candidacy because he has already served two tenures in the working committee.

Ranabhat opines that the first and immediate challenge for the new chairman will be to smooth the online trading system via the new company registered by all the broker members.

Furthermore, Ranabhat stated that Mainali will focus on market expansion and growth since the type and volume of investors have changed in recent years. Lastly, he said that the new chairman, and all the broker members, will work to adapt according to the changing market conditions.