The amendments will come into effect following their authentication by President Bidya Devi Bhandari. The fresh amendment bars NRB Governor from taking any post in BFIs. Similarly, deputy governors and executive directors of the central bank will not be allowed to join any BFI up to three years of their retirement or leaving the central bank job. Likewise, the amendment on the legislation has placed a cooling period of two years for the officer-level staff of the central bank, which means an NRB officer will not be able to accept any job with the BFI for up to two years of leaving the central bank. The new measures in the legislation requires officials to get permission of the central bank should they decide to join any BFI after the cooling period. “The parliament has endorsed a bill to make amendment to Nepal Rastra Bank Act, 2002, restricting officials of Nepal Rastra Bank (NRB) from joining bank and financial institutions (BFIs) for a certain period. The full house meeting of the parliament approved the amendment bill along with the Bill on Establishment and Operation of Deposit and Credit Guarantee Corporation, and amendment bill on Employees Provident Fund (Ninth Amendment) Act, among others.
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