Finance Minister Dr. Swarnim Wagle has directed the Securities Board of Nepal (SEBON) to work with high ethical standards to develop the country’s capital market.
Finance Minister Dr. Swarnim Wagle said that the Securities Board of Nepal (SEBON) should work for capital market development by improving its regulatory quality. He shared this view during an onsite inspection of the SEBON office on Monday.
During his visit, he directed the board leadership to carry forward capital market development activities with high level of ethics. “After appoint of new Chairman, I have felt that board is trying to move forward with long-term goals, and this has brought positive impact in the market,” he said. He asked them to keep moving with high moral standards.
Heavy Responsibility on SEBON Like Nepal Rastra Bank
Wagle compared the regulatory duties of SEBON to Nepal Rastra Bank, saying that the board holds a heavy responsibility. He instructed the leadership of board to not get distracted and focus on protecting the hard-earned wealth of investors.
Since the new government has formed, expectations of investors are high. Minister Wagle directed the board to consult with all stakeholders when preparing new regulatory laws, so that everyone can have a same understanding on the rules.
He told the board to take all stock market stakeholders together and conduct enough discussions to solve their demands. He added that he wants to see the actual implementation of newly appointed Chairman’s goal of making Nepal’s share market the second best and most competitive in Asia.
“I am closely watching your announcement to make Nepal’s market the second best in Asia,” the Finance Minister told the SEBON Chairman. “Move ahead by taking everyone together. Protect the assets of investors. The ministry and government will support whatever is needed from our side.”
Blueprint for Capital Market Development Already Prepared
Speaking at the program, SEBON Chairman Dr. Gopal Bhatta said that they have already prepared and started implementing blueprint for capital market development. He informed that within this month of Shrawan, the board will prepare draft guidelines for primary and secondary market IPO issuance, intra-day trading, margin lending, and short selling. He mentioned that these rules will be implemented in Bhadra after having wide consultations with stakeholders.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
