Under the system, all paper-based information will be transformed into electronic copies, making stock-related information more accessible and reliable.
Under the system, an electronic connectivity with concerned agencies such as the Nepal Stock Exchange (NEPSE), Central Statistic Bureau, and Nepal Rastra Bank will be established to exchange and verify data.
“We found that investors are confusing different and uncoordinated information that they receive from the NEPSE and the board. So, we are setting up the Central Security Data Bank to disseminate information through one place to clear the confusion,” said Nawaraj Adhikari, deputy director of the SEBON. The Stock Exchange and the board are providing stock market data separately.
The Security Statistic Project, which has been running since last March, is completing the modernization process with the electronic data system in the board to cater to customers´ demand for reliable stock market information. The project is due to be completed by the coming February, 2009.
“Different information relating to directives from the board and implementation from NEPSE, besides details of listed companies in the NEPSE, will be flowed from single place,” added Adhikari, who is also heading the project.
“We will keep all files into electronic system under the program and exchange information through e-copies,” he added.
The World Bank’s International Development Agency has provided assistance of Rs 6.22 million for the project.
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