Approval Of NRB Not Required To Bring In Foreign Investment
June 8, 2021 | Investopaper
Prior approval of Nepal Rastra Bank is not required to bring foreign direct investment (FDI) in Nepal. With the issuance of Foreign Investment and Foreign Debt Management Regulations, 2078 BS by the Nepal Rastra Bank, the approval of the bank is not required to bring in foreign investment.
At the same time, it is no longer necessary to get approval from NRB for foreign currency coming in for foreign investment. Similarly, investors will be able to easily take the return on investment.
NRB has stated that the bank has brought such regulations using the authority given by Section 12 of the Foreign Exchange Act, 2019 and Sub-section (2) of Section 110 of the Nepal Rastra Bank Act, 2058.
