During the meeting, Chilean envoy identified possibilities of bringing in Chilean investment in hydropower, mining, tourism and pharmaceutical sectors. He also talked about the possibilities of increasing Nepal´s garment, carpet and handicraft exports to Chile.
CNI and the Chilean ambassador also stressed on the need to disseminate information on economic and trade policies at frequent intervals.
Money laundering directives from next week
KATHMANDU, Aug 11: In an attempt to discourage the trend of purifying assets amassed illegally and financial crimes, Nepal Rastra Bank (NRB), the central bank, is enacting ´Anti Money Laundering Directives 2066´.
Issuing a press release on Tuesday, the NRB, the banking sector regulator, stated the directive would come into effect from August 17.
The directives has made it mandatory for commercial banks and financial institutions to keep details of customers, give statements as demanded by customers, inform about the transactions beyond limits, appoint implementation officers and follow the statement dissemination practices as per the specification.
The Anti Money Laundering Act was formulated in 2007.
The NRB said that exchange of information and mutual cooperation from financial institutions with the enforcement of the directives, would help reduce financial crimes in the coming days.
EBL profits Rs 624m
KATHMANDU, Aug 11: Everest Bank Limited has stated that it earned a net profit of Rs 624 million in 2008/09 fiscal year, which is 38 percent rise over previous year´s profit.
Issuing a press release, the bank said its operating profit during the year touched Rs 1.06 billion, compared to Rs 818.2 million of the previous year. Its deposits increased by 39 percent and loans grew by 30 percent during the period.
The figures are as reflected in the bank´s unaudited profit and loss accounts, which its board of directors discussed on Sunday. During the meeting, the board also expressed satisfaction over the improvement in its asset quality. The release notes that bank´s non-performing assets has dropped to 0.48 percent from 0.68 percent respectively.
The bank presently operates with 34 branches and is planning to open a new branch in Thamel within a month.
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