Kathmandu, June 8
The central bank of Nepal has amended the rule about foreign direct investment in the country. As per the amendment, any company bringing in the FDI does not need to obtain its approval.
The companies, however, need to obtain approval from other concerned agencies and should also inform the central bank before bringing in the money. Likewise, they need to obtain its approval if the FDI is being brought because of the handover of share ownership.
Nepal Rastra Bank had drafted the amendment proposal in February, but it took four months to endorse and implement it.