NRB unveils stricter measures on investment abroad

Published On: January 13, 2023 05:45 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Jan 13: Nepal Rastra Bank (NRB) has made it stricter to take money abroad. The central bank today through a notice has requested not to make any type of investment abroad except as prescribed by the law.

In recent days, after news and details of Nepali citizens investing in different areas of foreign countries were published, they were advised not to take money abroad. It has been warned not to do transactions of capital such as purchase of real estate abroad, purchase of securities, purchase of property and deposits in foreign banks and financial institutions.

The NRB has also requested not to spread any publicity about it. The central bank has drawn everyone’s attention not to do any work related to payment abroad except as per the rules prescribed by the central bank. It is mentioned in the notice of the Rastra Bank that if anything as such is found; action will be taken according to the prevailing law.

This notice is published in exercise of the powers conferred by Section 12 of the Foreign Exchange (Regulation) Act, 2019. According to the NRB, no person living in Nepal can make any kind of investment abroad.


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