Kathmandu. Now, the board of directors of banks and financial institutions will have to make a decision from the board of directors every time the chairman, members and chief executive officer of the board of directors travel abroad.

Nepal Rastra Bank (NRB) has issued a directive to the banks and financial institutions (BFIs) in this regard. According to the NRB, the institutions concerned should formulate and implement working procedures to make the arrangements related to foreign visits of the chairperson, members and chief executive officer of the Board of Directors more systematic. In addition to other necessary matters, the following provisions shall be maintained.

The purpose and utility of the visit should be decided by the Board of Directors of the concerned organization.

The Chairperson, members and CEO of the Board of Directors will have to analyse the countries to be visited, name of the officials to be visited, duration of the visit, subject of the visit, expenses incurred while visiting and benefits to the licensed organization while going abroad. Foreign travel programs should be completed in a cost-effective manner.