Nepal Rastra Bank Directs Financial Institutions to Facilitate Opening of Bank Accounts for Election Purposes

Kathmandu. Nepal Rastra Bank (NRB) has directed banks and financial institutions to arrange for the opening of bank accounts for election purposes. Following a request from the Election Commission, the central bank has urged them to facilitate the opening of these accounts through a letter.

It has been mentioned that accounts can be opened upon the recommendation of the Provincial Election Office and District Election Office under the Election Commission, to remain operational until the Commission orders the closure of the bank accounts. Arrangements have been made to open accounts to handle the income and expenditure transactions of the Nepali currency for the general election campaign groups.

The central bank has urged, through a notice, to arrange for the opening and operation of separate accounts for every political party and for proportional and direct candidates representing those parties, as well as independent candidates.