KATHMANDU, August 18: The Securities Board of Nepal (Sebon) has permitted 11 brokerage firms to open their branches at 18 locations outside the Kathmandu Valley.
This is the first time in the past two years that the sector’s regulator has approved stockbrokers to operate their additional working units. According to Sebon, it has allowed these stockbrokers to open their work stations in Damak of Jhapa, Kawasoti of Nawalpur, Bhumahi of Nawalparasi, Tansen of Palpa, Bhairahawa of Rupandehi, Kusma of Parbat, Lamki of Kailali, Bharatpur of Chitwan, Phidim of Panchthar, Tulsipur of Dang and Ilam Bazaar of Ilam districts.
As of now, 41 out of 50 brokerage firms have been operating their 47 branches in different locations across the country. Seeking to open 200 such branches in all seven provinces, the stock brokers have applied at Sebon.