For Prior Approval :
| Without Foreign Investment | With Foreign Investment | Opening Branch By International Rated Foreign BFI |
| 1. MOA, AOA | all the documents to be submitted as in the left along with the following documents - | all the documents to be submitted as in the left along with the following documents |
| 2. Feasibility Report | 1. Certificate of Incorporation ,MOA,AOA of the concerned Foreign BFI in the respective nation | 1. written commitment from the BOD that the amount required for the fulfillment of the total liability in relation to the business works, or representative or liaison office shall be made available at the time prescribed by NRB |
| 3. Personal Details of Promoters | 2. Proposed business plan, business strategy, internal control, risk management, operational activities | 2. Description of the proposed place of location of the branch office in Nepal |
| 4. Source of Income and Tax Clearance of the applicant | 3. Audited Statement of last 3 years of such foreign BFI | 3. Description of the possible officers in the Branch office of Such BFI |
| 5. Details of Family Members of promoters | 4. Decision given by the laws of respective nation regarding incorporation of BFI in Nepal | |
| 6. if it is a Body corporate audited statements for the last 3 years and Tax Clearance | 5. Copy of license to carry out Banking and Financial Transaction in the respective Country | |
| 7. Declaration that the promoters have not been convicted of Fraud, Forgery or any other offences | 6. Details about the principal place in which it carries transaction | |
| 8. Description whether action has been taken against the applicant by a regulating authority, Suspension or cancellation of license of the body corporate applicant is involved with, or the institution is under the process of liquidation | | |
| 9. Consent that NRB can investigate the personal and financial background of the applicants | | |
| 10. Commitment of Security Deposit | | |
| 11. Agreement if any, entered into by the promoters | | |
| 12. Description that the applicant has not become insolvent, of the loan taken by the applicant from BFIs and whether blacklisted or not and if blacklisted whether 3 years has elapsed or not | | |
For Licence:
| Without Foreign Investment | With Foreign Investment |
| 1. MOA, AOA, Certificate of Incorporation | 1. all the documents to be submitted as in the left along with the following documents |
| 2. Details of office building with well equipped infrastructures. If rented, Lease agreement, mentioning the adequate grounds for conducting banking and financial transactions | 2. Approval or consent letter from the government or Central bank or regulating authority of such nation that authorizes to carry Banking and Financial Transaction in Nepal |
| 3. Business strategies and nature of transactions to be operated and business plan prepared covering internal control and risk management. | 3. Details of difference, if any, that has aroused after obtaining prior approval |
| 4. Details of main locations and branch location of the BFI | 4. Other matters |
| 5. Documents proving that the shares undertaken to subscribe by the promoters have been paid and deposited with NRB | |
| 6. Bye laws relating to service, conditions and facilities of the employees, financial administration bye laws and bye laws relating to the write off of loans of the BFI | |
| 7. Consent given to comply with the directives of NRB | |
| 8. Name list of directors and officers and details mentioning that S/He is eligible to be a director or officer | |
| 9. Commitment that the minimum paid up capital as prescribed by NRB shall be maintained | |
| 10. Commitment that the banks can maintain internal control process to manage all the possible risks in an appropriate way | |
| 11. Other particulars as may be Prescribed | |
Published By
Aadesh Kandel
Share
Comments