We've Chosen Someone for SEBON Chair - But We'll Check Ten Generations Before Appointing: Finance Minister

Finance Minister Dr. Swarnima Wagle has said that the appointments of chairpersons at the Securities Board of Nepal (SEBON) and the Nepal Insurance Authority will be made only after thorough background checks, ensuring that candidates with a clean record are selected.

Speaking at a programme organised by the Nepal Chamber of Commerce in Kathmandu on Wednesday, Minister Wagle said the government had already identified a candidate for the SEBON chairperson post but would not move ahead with the appointment without completing a detailed review of the person's background, past activities, and personal and family associations going back multiple generations.

"We have already chosen a person for the SEBON chairperson post. But we are working to appoint him only after thoroughly studying and examining his background, his past activities, and his connections going back ten generations," Minister Wagle said.

He added that the same rigorous process would apply to the appointment at the Nepal Insurance Authority. "We will bring the right person. The same will happen in the case of the Insurance Authority," He said.

Both the SEBON and Nepal Insurance Authority chairperson posts have been without permanent heads, drawing concern from market participants over delayed regulatory decisions.