KATHMANDU, Aug 21: Commercial bank chief executive officers (CEOs) will be eligible to become governor of Nepal Rastra Bank after completing a two-year cooling-off period.
The House of Representatives’ Finance Committee decided on Friday while discussing the Nepal Rastra Bank Bill, 2083.
The government’s bill had proposed removing the provision that allows commercial bank CEOs to become NRB governors. Under the existing Nepal Rastra Bank Act, 2058, commercial bank CEOs are eligible for the position.
Committee chairperson Krishna Hari Budhathoki said the committee decided to retain the existing qualifications for governor while adding commercial bank CEOs to the list of eligible candidates, subject to a two-year cooling-off period after leaving their position.
Revised interest rate corridor system introduced
The committee also decided to allow individuals who have held executive-level positions at international financial institutions to qualify for the governor’s position.
The bill requires candidates to have at least a master’s degree in economics, monetary affairs, banking, finance, statistics or accounting, public administration, commerce, management or commercial law, along with at least 10 years of relevant experience at an executive-level or equivalent position.
The committee has added former commercial bank CEOs to the eligibility criteria, provided two years have passed since they left their position.
