Nepal Rastra Bank has introduced stricter rules for the purchase and transfer of founder shares in banks and financial institutions, making the process significantly more transparent and demanding than before.
Under the revised provisions issued through amendments to the Unified Directive 2082, individuals seeking to acquire large volumes of founder shares in Class “A”, “B”, and “C” financial institutions will now be required to disclose extensive personal, financial, and ownership-related information.
According to the new circular issued by the Bank and Financial Institutions Regulation Department, the actual beneficial owner purchasing founder shares must submit a mandatory 10-point self-declaration. The required disclosures include personal identity details, address, family background, and information about ownership of assets both inside and outside Nepal.
The new requirements also prevent investors from hiding their legal or financial history. Buyers must disclose whether they have been involved in any criminal offence in Nepal or abroad, whether they are currently facing investigations, legal proceedings, or administrative action, and whether they have ever been included in any credit blacklist.
Additionally, individuals must reveal any unpaid government liabilities or outstanding obligations ordered by courts or authorities. Nepali citizens who own property abroad—or who are the actual beneficiaries of overseas assets—must provide full disclosure regarding those holdings.
The directive further requires investors to declare any situation that could create a conflict of interest with the concerned bank or financial institution.
The move comes amid growing concerns over the use of founder shares to gain influence in the banking sector through opaque ownership structures and hidden beneficial interests. Regulators believe tighter disclosure requirements will strengthen transparency, improve governance standards, and reduce the risk of undisclosed capital entering Nepal’s financial system.
The revised framework signals a stronger regulatory focus on identifying the real owners behind large investments and increasing accountability within Nepal’s banking sector.
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