Havaldar Yunus & Co. selected to identify loan irregularities, including evergreening practices.
Nepal Rastra Bank (NRB) has appointed Havaldar Yunus & Co. Chartered Accountants, a Bangladesh-based firm, as a consultant to conduct a financial asset quality review of loans invested by commercial banks in Nepal. The firm was selected based on technical and financial evaluations conducted under Section 38(2) of the Public Procurement Act, 2063 B.S.
According to NRB, the firm will provide services for a total fee of Rs. 62 lakh 54 thousand, excluding taxes. Havaldar Yunus & Co. is a reputed institution with over 50 years of experience, headquartered in Bangladesh.
This appointment follows a recommendation by the International Monetary Fund (IMF) aimed at performing an in-depth financial examination to detect problematic banking practices such as loan evergreening.
Initially, six companies submitted proposals in response to NRB’s tender; however, only Havaldar Yunus & Co. was deemed technically qualified. The selection process was temporarily paused due to an interim order from the Supreme Court, which was lifted on Asar 9, 2081 B.S., allowing NRB to proceed and finalize the appointment.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
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