Nepal Rastra Bank (NRB) has revoked the licenses of two money changer companies for failing to renew them within the prescribed timeframe.
Nepal Rastra Bank (NRB) has canceled the licenses of two money changer companies. According to the Foreign Exchange Management Department, the licenses of Union Currency Exchange Pvt. Ltd., located in Mitranagar, Kathmandu-26, and KTM.OM Money Exchange Pvt. Ltd., located in Thamel, have been revoked.
NRB stated that the companies failed to renew their licenses within three months after their expiry dates, leading to the cancellation.
The official notice reads: “As per Sub-Regulation (3) of Regulation 19 of the Money Changer License and Inspection Regulations, 2077 (Fourth Amendment), the licenses have been canceled for failing to renew within the prescribed period.”
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
