The central bank of the Himalayan country, Nepal Rashtra Bank, has amended the rule about Foreign direct investment (FDI). With the new amendment in place, the new FDIs’ wouldn’t require any prior approval from the central bank, which was previously the case.
However, the investors would require the approval of the concerned agencies.
The investors also notify the Nepal Rashtra Bank before sourcing monetary resources. Also, the central bank’s approval is required if the handover of share ownership sources the investment.
The central bank has approved this decision after drafting the amendment proposal in February.
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