Kathmandu, December 30
Machhapuchchhre Bank Limited (MBL) has signed an agreement worth USD 10 Million with Mashreq Bank, Dubai.
The Nepal Rastra Bank in its monetary policy for 2019-2020, decided to permit commercial banks to borrow loan in foreign currency up to 100% of their tier capital from
licensed pension funds, hedge funds and other financial institution in a bid to ease pressure on shrinking foreign currency reserves, to address the liquidity crunch,
and increase credit in productive sectors.
MBL, which has 145 branches across the country, decided to sign the loan agreement to invest in infrastructural projects and other priority sectors, the bank said in a statement.
