-  Thursday 01 October 2020

NRB to establish banking academy

LALITPUR, March 18 - Governor of Nepal Rastra Bank Bijaya Nath Bhattarai has disclosed that the central bank is in the process of establishing a National Academy for Banking, Finance and Insurance for capacity-building of the sector.
Addressing a workshop on Strategic Planning of Nepal Rastra Bank (NRB) organized here today, governor Bhattarai said the bank is also in the process of preparing drafts of laws and by-laws related with the banking and financial sector to cope with emerging challenges.

Highlighting the need of a long-term corporate planning for the central bank, he said, "The new strategic planning will enable NRB to play a greater role in responding to the emerging challenges in the national economy and banking and financial sector."

Governor Bhattarai also said that changing structure of national and world economy and more specifically the emerging changes in the international financial architecture and universal banking practices have necessitated the adaptation of the strategy.In this regard, the Corporate Strategic Plan has clearly defined the vision, core values, strategic goals, action plan and key monitoring indicators including the priority areas in the form of an operational plan and capacity building program, he added. 

Speaking on the same occasion, Professor Bishwa Keshar Maskey, coordinator of Corporate Planning Committee expressed hope that the proposed planning would help the central bank to discharge its core responsibilities and contribute towards sound management of the macro economy.

Maskey also said that the proposed strategic planning was a vehicle to lead the change process to meet NRB's goal and mission, and re-engineering of the bank has been initiated to meet the demand of institutional change that it has been facing in recent years.

Source
The Kathmandu Post




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