Kathmandu. The Securities Board of Nepal (SEBON) has held discussions to take forward the reform process of the Nepal Stock Exchange (NEPSE).
The meeting discussed the implementation of the report submitted by the committee on restructuring of NEPSE formed by the government at the office of the Securities Board of India (SEBON) and the second market operation, management and diversification of equipment and services. The meeting was attended by Securities Board of Nepal (SEBON) Dr. Gopal Prasad Bhatta, senior management, board of directors and top management of NEPSE. The discussion focused on reforms in the institutional structure, ownership, good governance, technology, manpower, work process and transaction system of NEPSE.
Stating that capital, human resources and information technology infrastructure were essential issues for the modern stock exchange, Chairman Bhatta said that the discussion program was organized for the first time as the beginning of the stock exchange reform process. He said that the future course of action of the Securities Board is to carry out the work of securities market reform by exercising the regulatory powers of the Securities Board of Nepal on more than 30 different issues related to capital and ownership restructuring of Nepse and secondly, market operation, management and diversification of equipment and services.
During the discussion, Narayan Prasad Risal, Chairman of the Board of Directors of NEPSE and Joint Secretary at the Ministry of Finance, Government of Nepal, said that the discussion program between the Securities Board of Nepal and the Board of Directors of NEPSE was a new beginning of securities market reform and that NEPSE was currently focused on the immediate implementation of the report on NEPSE restructuring. He said that NEPSE is committed to the improvement of technology and system, corporate governance, investment equipment and services.
On the occasion, Deputy Executive Director of the Securities Board of Nepal (SEBON) Ambika Ojha Gupta made a presentation focusing on the implementation of the recommendations mentioned in the NEPSE restructuring, making the operation and management of secondary market more effective and diversification of securities market instruments and services.
NEPSE restructuring and effective operation of secondary market is expected to help expand investment options in Nepal’s capital market, enhance credibility of trading system and strengthen market transparency.
