SEBON Chair Hamal refutes allegation of obtaining foreign citizenship, passport

KATHMANDU: Chairman of the Securities Board of Nepal (SEBON), Ramesh Kumar Hamal, has expressed his deep concern over the news published against him. Issuing a press statement, SEBON Chair Hamal refuted the allegation made by some news reports that he had obtained foreign citizenship certificate or passport from other countries while he had been working abroad as an expert for 20 years. The SEBON Chairman asserted that he has been efficiently making improvements in the market since he was appointed to the post. He said he has made the action of SEBON, the regulatory body, transparent. In a press statement, Hamal said that under his leadership the board implemented Securities Listing and Trading Rules, 2075 (2018) (third amendment) on April 29, 2023, allowing investors to benefit from the facilities available in the developed market and allowing stock brokers and traders to establish total Management Services (TMS). Likewise, SEBON fixed the fee of banks and financial institutions (BFIs) at Rs 5 for providing services related to securities business. Earlier the BFIs were charging Rs 100 for such service. Hamal said, under his leadership, SEBON implemented the ‘Securities Issuance and Allotment (Sixth Amendment) Guideline, 2079’ with the aim of allowing Nepalis employed in foreign countries to enter the share market so that they could invest in initial public offerings (IPOs). He asserted that this has encouraged the remittance flow through the official channels and helped in foreign exchange reserves. He also mentioned some other improvements made by the SEBON under his leadership. READ ALSO:

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