November 6: The Securities Board of Nepal (SEBON) has implemented the 'Securities Issuance and Allocation (Sixth Amendment) Guidelines, 2022' with the objective of bringing in those who are currently involved in foreign employment into the folds of the share market.    
SEBON has made provisions for reservation to those in foreign employment so that they would be able to easily invest in the initial public offering. As per the guidelines, this provision has come into effect immediately.    
This provision has been made for encouraging the Nepalis currently in foreign employment to send the remittances to Nepal through formal channel. It is estimated that the remittance coming via formal channels will increase if provisions of providing reservation for IPO to those Nepalis in foreign employment. The move is expected to release the pressure on  the declining foreign currency reserves in the country in recent times.    
The government took this measure as the money coming through the remittances was being used only on buying consumer goods and was thus going back to where it came from. The board made this provision at the initiatives of the Finance Ministry with the aim of utilizing the money in the productive sectors and in shoring up the national economy.    
As per the new provision, the organizations issuing IPOs are required to allot 10 percent of the IPOs to those Nepalis who have acquired labour permits for foreign employment. -- RSS