Kathmandu. Nepal’s microfinance sector has undergone a historic big merger process. The merger agreement was signed between Jeevan Bikas Laghubitta Bittiya Sanstha Limited (Katahari, Morang), Unique Nepal Laghubitta Bittiya Sanstha Limited (Kohalpur), Banke and Manushi Laghubitta Bittiya Sanstha Limited, which has a central office in Banepa, Kavrepalanchowk. <\/p>\n
Chairman of Jeevan Bikas Bikram Raj Subedi, Chairman of Unique Nepal Shiva Bahadur Chaudhary and Director of Manushi Laghubitta Veena Shrestha signed the MoU on behalf of their respective organizations. The agreement between the three institutions is the biggest merger agreement so far in the microfinance sector of Nepal. <\/p>\n
Chief Executive Officer of Jeevan Bikas Micro Finance Company, Sanjaya Kumar Mandal, said that the agreement was signed with an objective of consolidating capital base of microfinance, providing modern technology-friendly financial services and increasing people’s confidence in the financial sector. <\/p>\n
After the merger, the name of the company will be ‘Jeevan Bikas Laghubitta Bittiya Sanstha Limited’. The central office of the organization will be located at Katahari Rural Municipality-2 of Morang. <\/p>\n
According to the agreement, the central office of Unique Nepal and Manushi Laghubitta will be converted into a provincial office. <\/p>\n
The chief executive officer of the company will be Sanjay Kumar Mandal, chief executive officer of Jeevan Bikas Laghubitta Bittiya Sanstha. After the merger, the employees of all three organizations will be adjusted. <\/p>\n
Currently, Jeevan Bikash has a paid-up capital of Rs 1.75 billion, Unique Nepal has a paid-up capital of Rs 148.5 million and Manushi Laghubitta has a paid-up capital of Rs 10.93 crore. <\/p>\n
Jeevan Bikas has been providing microfinance services to more than 315,000 members of 31 districts of Koshi, Madhesh and Bagmati provinces through its 160 branches. Unique Nepal has been providing financial services to more than 80,000 people in 10 districts while Manushi has been providing financial services to more than 34,700 people in 14 districts. <\/p>\n
According to the organization, a 6-member joint merger committee has been formed to take the merger process forward. Director Prakash Kumar Shrestha has been appointed as the coordinator of the merger committee. Ashok Sitaula, Puran Prasad Chaudhary, Santaram Tharu, Nabina Dhakhwa Shakya and Tara Kumar Rijal are the members of the committee. Jeevan Bikas Laghubitta Bittiya Sanstha’s Deputy Chief Executive Officer Damodar Regmi is the member secretary of the committee. <\/p>\n
The merger process will be completed by mid-July 2083 BS and the integrated transaction will be started.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. Nepal’s microfinance sector has undergone a historic big merger process. The merger agreement was signed between Jeevan Bikas Laghubitta Bittiya Sanstha Limited (Katahari, Morang), Unique Nepal Laghubitta Bittiya Sanstha Limited (Kohalpur), Banke and Manushi Laghubitta Bittiya Sanstha Limited, which has a central office in Banepa, Kavrepalanchowk. Chairman of Jeevan Bikas Bikram Raj Subedi, Chairman […]<\/p>\n","protected":false},"author":9,"featured_media":295023,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45117,45159],"tags":[],"class_list":["post-295027","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bank-finance-en","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/295027","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=295027"}],"version-history":[{"count":1,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/295027\/revisions"}],"predecessor-version":[{"id":295028,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/295027\/revisions\/295028"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/295023"}],"wp:attachment":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=295027"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=295027"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=295027"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}