Nepal Rastra Bank Finalizes De-Licensing of Central Exchange Counter

Photo · ictframe.com

Nepal Rastra Bank has officially finalized the regulatory de-licensing of Central Exchange Counter Private Limited, a private currency transactional enterprise that operated in Pokhara, Kaski district. The firm's operational permit for foreign currency exchange has been permanently withdrawn from the master registry. The closure was initiated by the firm's management, who submitted a voluntary petition to cancel their money changer permit, which the central bank approved.

The de-licensing was executed in accordance with the Nepal Rastra Bank Money Changer Licensing and Inspection Regulation 2077.
Central Exchange Counter Private Limited had been operating its retail cash counters in Pokhara Ward Number 6.
The company's management made an independent board decision to discontinue their retail exchange business.
The central bank reviewed the firm's financial positions and approved the winding down request.

Timeline (3)

Latest · Oldest

6 days ago

ictframe.com

Nepal Rastra Bank Finalizes Official De-Licensing Protocols for Pokhara’s Central Exchange Counter

6 days ago

ictframe.com

Nepal Investment Mega Bank Limited Chief Executive Officer Resumes Top Administrative Roles

6 days ago

ictframe.com

Laxmi Sunrise Bank Limited Announces Intensive Debt Recovery Measures Against Defaulting Borrowers

Share ↗

Nepal Rastra Bank Pokhara Central Exchange Counter Private Limited Gandaki Province Kaski

More in Economy

See all ›

Pharmaceutical Producers Demand Government Curb Foreign Medicine Imports

The Association of Pharmaceutical Producers of Nepal (APPON) has urged the government to curb the import of foreign medicines, particularly those already produced domestically. APPON argues that Nepal is self-sufficient in various medicines and suggests importing only raw materials to protect national industries facing competition from cheaper foreign products.

3 articles · 5 hours ago

MP Anushka Shrestha Demands Mandatory Sale of Nepali Goods at Tribhuvan International Airport

Ruling Rastriya Swatantra Party MP Anushka Shrestha has called for the mandatory sale of Nepali goods at Tribhuvan International Airport to promote Nepali identity and entrepreneurs. She emphasized that the airport should be utilized to showcase domestic industries and indigenous products to departing passengers.

3 articles · 8 hours ago

Government Finalizes Fiscal Year 2083/84 Budget with Focus on Economic Reform and Private Sector Growth

The Nepali government is finalizing the budget for fiscal year 2083/84, set to be presented by Jestha 15, with a strong emphasis on fostering a private sector-friendly investment environment and implementing economic reforms. Key policy priorities include reducing acquisition and tax-related hurdles, enhancing the one-door service system, and increasing investment in industrial infrastructure to lower costs. The Finance Minister has described the upcoming budget as the commencement of a new, transformative phase of economic reform.

3 articles · 9 hours ago

Nepal Life Insurance Conducts AML/CFT Training with Nepal Rastra Bank Expert

Nepal Life Insurance Company Limited held a specialized training in Kathmandu on Anti-Money Laundering, Countering the Financing of Terrorism, and Countering the Financing of Proliferation (AML/CFT/CPF). The session featured Dr. Hari Kumar Nepal from Nepal Rastra Bank, who provided insights on legal frameworks and practical implementation for the insurance sector. The training aimed to strengthen participants' understanding and reduce financial crimes.

3 articles · 10 hours ago