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Bankers’ Association fears social security scheme deprives staff of existing facilities

Gyanendra Dhungana

Kathmandu, December 23

Nepal Bankers’ Association, an organisation of managers of commercial banks of the country, has said that the banks are not ready to implement the new social security scheme introduced by the government last year, claiming the scheme could deprive their staff of existing facilities.

In an interview with Onlinekhabar, NBA president Gyanendra Dhungana says the association has already communicated its concerns to the government via Nepal Rastra Bank, the central bank of the country, and is looking forward to the government’s efforts to address them.

“Once a law is introduced, everyone has to implement it. We also want to participate in the scheme,” the banker explains, “But we have some extended some suggestions. They are yet to be implemented. Unless they are implemented, it will be difficult for us to join.”

Dhungana elaborates that the scheme requires the workers to pay excessive taxes whereas it does not give loan facilities as the workers currently get from the Employees Provident Fund. Likewise, a few provisions of the scheme contradict provisions of the Labour Act, according to him.

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