NDF CEO Bhattarai discusses reforms to boost investments from NRNs
KATHMANDU: Samriddhi Foundation hosted a discussion programme with Anal Raj Bhattarai, Chief Executive Officer of Nepal Development Fund (NDF), on Friday.
During the event, NDF CEO Bhattarai expressed confidence in leveraging $100 million in investment in Nepal from non-resident Nepalis (NRNs) residing abroad. He highlighted recent regulatory reforms, stating that eight had been proposed, of which seven had been passed to facilitate and safeguard NRN investments. While acknowledging the challenges, Bhattarai maintained an optimistic outlook, stating that a return on investment for NRNs is feasible.
The discussion addressed Nepal's market conditions, government intervention, commercial banking regulation, budget allocation, taxation policy, and economic stagnation. Bhattarai emphasised the need to tackle high operational costs, which he said increase costs for customers. He recommended that the Nepal Rastra Bank (NRB) implement measures to counteract the erratic distribution of funds by commercial banks and focus on structural reforms and infrastructure investments.
Speaking about the NRB’s vacant Governor’s position, Bhattarai remarked that the role had gained strength over the years with the implementation of fiscal and monetary policies. He noted the importance of leadership for banking regulators, which he said is influenced by the five-year election cycle.
Bhattarai also reflected on economic trends, mentioning that the 2015–2020 period saw steady growth, reduced rates, and asset value appreciation. He stressed that, as the economy stagnates post-Covid, commercial banks should propose innovative measures for the NRB to review and implement to restore economic stability.
The talk was hosted by Robin Sitoula, Executive Director of Samriddhi Foundation, and included a Q&A segment, providing attendees with insights on Nepal's economic landscape. Bhattarai, a Chartered Accountant with experience in establishing and operating banks in Nepal, also shared insights from his private sector experience.
Samriddhi Foundation hosts public forums and consultations to encourage dialogue on economic and policy issues. It conducts discussion programmes on the last Friday of every month, featuring a variety of topics.
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