SEBON Chairman, Hamal Claims He Has Not Taken Citizenship of Any Other Country Except Nepal; Adds Some Vested Interest Groups Are Making Fake Accusations

Ramesh Hamal, the chairman of the Securities Board (SEBON), has emphasized that the posting of some news about him has garnered considerable attention and that he took the matter of character assassination through the news seriously, and the accusations made in the news are unfounded and fake.

In addition to working as a Nepali citizen for almost 20 years, he noted that it is a major concern that false information about him is being spread. He claimed that he has never acquired citizenship or a passport from any other country other than Nepal, and he views the fact that he has served this country as a Nepali citizen as a source of pride.

Chairman Hamal has claimed that the various reform campaigns started in the securities market are against the wishes of vested interest groups and such news have come from those who have been enlightened by the concrete initiatives of the board. He has also stated that he expects help with constructive suggestions in the improvement effort that should be in the interest of investors rather than disseminating fake news for the advantage of particular interest groups.

He stated that he was not at all disturbed by this type of activity and that the only way for the nation to prosper is through the creation and mobilization of national capital through the development and expansion of the overall securities market and the clean, fair, transparent, and competitive securities market while safeguarding the interests of regular investors in accordance with the law. In addition, he requested active assistance in creating and extending the clean, fair, transparent, and competitive securities market as well as the overall securities market, all the while defending the interests of common investors.

Additionally, Chairman Hamal asserted that the work carried out under his leadership improved investor confidence and made the market more competitive, fair, and transparent. During his tenure, new regulations have been put into place, including: Ten percent of the shares in the public share offering have been set aside for Nepalese citizens who have taken jobs abroad, specialized investment fund managers have been issued permission to enter the country according to the international practice of providing mortgages without capital and business knowledge for startups, to issue authorization for broker license within 35 days to all those who meet the requirements through the open entry and exit policy, among others.