Social Dialogue on
“Banking and Financial Sector Issues”
25th November, 2018, Kathmandu, Nepal
Social Dialogue on “Banking and Financial Sector Issues” was conducted by Financial Institute Employees’ Union of Nepal (FIEUN) in joint coordination with SASK & UNI APRO in Kathmandu, Nepal dated on 25th November, 2018. Governor of central bank (Nepal Rastra Bank), Executive Directors of Nepal Rastra Bank, CEO/DCO of commercial banks, President of Nepal Bankers’ Association, President of Nepal Microfinance Bankers’ Association, experts and trade union executives were brought together to discuss on the banking and financial sector issues through social dialogue.
Dr. Chiranjibi Nepal, Governor of Nepal Rastra Bank as the chief guest innaugurated the opening session of the program and Mr. Padam Raj Regmi, President of FIEUN as chairperson attended the dialogue.
Mr. Padam Raj Regmi, President of FIEUN gave welcome speech to the participants and stated the objectives and importance of the social dialogue. The major objectives of the social dialogue was to identity the major issues and challenges in banking and financial sector, to identify the workers issues and to maintain smooth relation between different stakeholders in the financial sector.
Mr. Nar Bahadur Thapa, Executive Director of Nepal Rastra Bank presented the paper on “Banking and Financial Sector Issues”. The paper was focused on positive developments in financial sector, policy reforms, growth and stability of financial sector, shadow banking (those outside the regulatory perimeter of NRB are defined as shadow banking) and other key issues like credit crunch, CCD ratio, merger of financial institutions.
Mr. Gyanendra Prasad Dhungana, President of Nepal Bankers’ Association, Mr. Shankar Lamichhane, President of UNI Nepal, Mr. Netra Bikram Thapa, Vice President of Nepal Trade Union Congress (NTUC) and Mr. Narayan Prasad Poudel, Executive Director(Financial Institution Regulation Department) and spokeperson of Nepal Rastra Bank Bank share their thoughts for the development of financial sector and for decent working environment and also gave feedback on paper presented by Mr. Thapa.
Likewise, chief guest Dr. Chirajibi Nepal, Governor of Nepal Rastra Bank said that banking and financial institutions are the major sector in the economic development of the country and still reform in policies are necessary for financial sector development. He also said that Nepal Rastra Bank monetary policy is encouraging bank and financial institutions to spend at least 3% of total personnel expenses for training and capacity building of financial sector employees and 1% of total profit in CSR. Trade unions also can play a major role in the development of any financial institution as a watch dog. Similarly, he told that Nepal Rastra Bank is doing its task to fully implement of BASEL 3 and preparing for BASEL 4. Likewise, technologies changes, 40% of citizens who are not in access of banking service, only 11% people access in insurance sector and few people involve in capital market are the major challenges in financial sector. He also told that social dialogue program could be very effective in development of financial sector development and to continue such type of program.
The program identified some key issues which are as follows:
At the end of the program Mr. Padam Raj Regmi, President of FIEUN gave vote of thanks to all guests and participants for their active participation.