Kathmandu. A meeting was held between the Securities Board of Nepal (SEBON) and the representatives of Non-Resident Nepalese (NRNs) at the Securities Board of Nepal (SEBON).

Board Chairman Dr. Gopal Prasad Bhatta said that necessary works would be carried out by incorporating the program in the capital market policy of the Board in the fiscal year 2083/84 as well as the program to reform the legal system to allow the non-resident Nepalis to participate in the secondary market of securities in the budget statement.

He said that the Board was ready for the necessary facilitation so that the skills, knowledge and capital learned by the Non-Resident Nepalis from the developed countries could be linked to the infrastructure development of Nepal.

During the discussions, representatives of NRNs said that the initiative taken by the Board has created an environment for NRNs to invest in Nepal’s securities market.

On the occasion, the representatives of the association informed that the investment company established with the joint investment of the government and NRNs will raise money by issuing ordinary shares to Non-Resident Nepalese and Nepalis living abroad through public issue.

He also informed that the amount would be invested in the development of physical infrastructure of Nepal.

Stating that the company plans to raise funds through bonds and debentures for a specific project in the future, he requested the Board to facilitate for necessary legal reforms.