Banks and Financial Institutions Ordinance, 2004

This ordinance amends and consolidates legislation relating to banks and financial institutions in Nepal in order to promote the trust of the public in the overall banking and financial systems of the country.

The ordinance aims to:

• Protect and promote the rights and interests of depositors;
• Provide reliable and quality banking and financial intermediary services to the public through healthy competitions among banks and financial institutions;
• Minimize risks relating to the banking and financial sectors;
• Liberalize the banking and financial sectors;
• Further boost and consolidate the economy;
• Make necessary legal provisions relating to the establishment, operation, management and regulation of banks and financial institutions.