KATHMANDU, Jan 11: The parliament has endorsed the bill to amend and unify bank and financial institution act (BAFIA), imposing two term limit for the chief executive officer, chairman and managing director of a bank or financial institution. The bill endorsed by a full house of parliament on Tuesday will come into effect once it receives the presidential seal. Among other things, the newly-endorsed act has set a term of upto four years for the board directors and CEOs.

KATHMANDU, Oct 18: Taking exception over changes made by the Ministry of Finance (MoF), Nepal Rastra Bank (NRB) Governor Chiranjibi Nepal has urged the parliament to endorse the first draft of amendments made to the Bank and Financial Institution Act (BAFIA) bill instead of its present form.

KATHMANDU, Aug 23: The Finance Committee of the parliament, which was pressing the full house to immediately approve a bill to amend and unify the Bank and Financial Institution Act (BAFIA).

KATHMANDU, Aug 1: Change of the government has delayed discussion and deliberation on the bill to amend and integrate Bank and Financial Institution Act (BAFIA).

KATHMANDU, June 21: Following widespread criticisms of some of the provisions in a bill to amendment the Bank and Financial Institution Act (BAFIA), a full house meeting of the parliament on Tuesday sent the bill back to the parliament’s Finance Committee for further discussion and revision.

KATHMANDU, June 21: Finance Minister Bishnu Paudel has withdrawn the Bill to Amend the Banks and Financial Institutions Act (BAFIA) 2006 from the Legislature Parliament and sent it back to the Finance Committee.

KATHMANDU, June 13: A bill at the parliament to amend the Banks and Financial Institutions Act (BAFIA) could pave the way for existing foreign investors who are non-banking and non-financial institutions to retain their stakes in the bank and financial institutions (BFIs) in Nepal.