Sebon bars registration of license for new merchant banks

Securities Board of Nepal (SEBON) has published a notice regarding bar of license for upcoming new merchant banks. At present, there are 19 merchant banks in operation and 10 new merchant banks are under the process to issue license to work as new Merchant Banks in Nepal. As per the Board, the ongoing application will be furthered and the new applications in take will be postponed as until the completion of amendment of regulation. The Board is in the process to analyze the capacity of merchant banker’s responsibility bearing capacity, capital management of merchant banks before 10 years, infrastructure management and widen the scope of services of merchant banks in Nepal.