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CBFIN Unveils Vision 2030

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CBFIN Unveils Vision 2030
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January 3: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has set Vision 2030 with the objective of supporting the overall development of the country from the banking sector. According to CBFIN, the Vision 2030 aims to make the banking sector a major partner in the overall development of the country.

CBFIN conducted a study on the difficulties and challenges of the banking sector. Based on the same study, CBFIN has prepared a report with recommendations for the development of the banking sector.

The report has been submitted to the Governor of Nepal Rastra Bank, Maha Prasad Adhikari. CBFIN Chairman Pawan Golyan announced during the general assembly of CBFIN on Friday  that the report has been submitted to the Governor. The banking sector is contributing in various aspects including increasing economic growth rate, increasing economic activities, increasing GDP, developing the private sector and teaching banking habits, added Golyan.

The banking sector will continue to make such contributions in the days to come. However, CBFIN says that Vision 2030 has been brought to make the banking sector a major driver of economic development.

Vision 2030 envisages building strong infrastructure for risk management, increasing deposits and credit in a balanced and sustainable manner, and developing strong information technology infrastructure. CBFIN aims to have branches and liaison offices of Nepali banks in at least 10 countries by 2030.

 Similarly, Vision 2030 also mentions about contributing to the development of the country by giving priority to green financing and small and medium enterprise loans. CBFIN also promotes process automation and paperless banking.

NRB data till 2077 BS shows that 39 percent Nepalis still do not have access to banking. Therefore, the goal is to provide banking access to all Nepalis, promote digital banking, reduce usage of cheques and move towards paperless banking, said CBFIN.

At present, human life is becoming more difficult from the point of view of a healthy environment due to industrialization, use of plastic products, environmental degradation, increasing urbanization etc. Therefore, CBFIN says that a special target has been set for green finance.

The report has also given some suggestions to NRB to solve the problem seen in the banking sector.











 

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