KATHMANDU, Jan 4: Chiranjivi Chapagain has been appointed as the chairperson of the Beema Samiti.
Chapagain is a director of the central bank.
According to Chief Secretary Som Lal Subedi, the cabinet meeting held on Thursday decided to pick Chapagain for the post.
Chapagain has been appointed Beema Samiti chairperson a week after the post turned vacant following the end of a four-year term of the outgoing chairperson Fatta Bahadur KC.
While Rabindra Ghimire, an expert in insurance sector, was said to be a contender favored by Minister for Finance Krishna Bahadur Mahara, Chief Secretary Subedi told Republica that Chapagain was proposed to the cabinet by the finance minister himself.
Chapagain has spent 18 years in the central bank. He worked in the Banking Regulation Department for around eight years. He currently heads the Pokhara regional office of the NRB. He had also led the 5th Household Budget Survey 2014/15 as the project chief.
Talking to Republica over phone, Chapagain said that he hopes to assume the office next week. "I can bring my regulatory experience of the NRB in the Beema Samiti for the better regulation and supervision of the insurance market," said Chapagain.
Along with better regulation of insurance industry, making insurance more accessible to people and expanding insurance services to rural areas, increasing paid-up capital of insurance companies, making amendment to the insurance act and licensing policy, among others, are the priorities for the newly appointed chairperson, according to experts.