Demat Account to Require National ID or Number for Share Transactions
Investors must now provide their National ID or its number while opening a Demat (beneficiary) account for share trading, as per a new policy introduced by the Securities Board of Nepal (SEBON).
The Securities Board of Nepal (SEBON) has included this requirement in its policy and program for the current fiscal year 2082/83, aiming to enhance transparency and strengthen the customer identification process in the securities market.
According to the new policy, the Know Your Customer (KYC) system will be integrated with the National ID database. This means that individuals opening new Demat accounts will need to authenticate their identity using the National ID or its number during the account opening process.
To implement this provision, SEBON will instruct the Nepal Stock Exchange (NEPSE) and CDS and Clearing Limited (CDSC) to carry out the necessary technical preparations.
📌 This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
