Bankers Association demands to give broker license to the bank

Kathmandu: The Bankers’ Association has demanded that banks be given broker licenses. Suggesting to the Nepal Rastra Bank for the coming monetary policy for the coming fiscal year, they have said that there should be an initiative to give broker license to the banks.

In some countries, banks have been acting as securities brokers. As per the arrangement prescribed by Nepal Rastra Bank, some banks have even opened subsidiaries for the drought.

According to the Bankers’ Association, the subsidiaries can expand their capital markets in rural areas through branches of commercial banks scattered across the country.

“However, the subsidiary of the commercial bank has not been able to get the broker license even after applying as per the rules.