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Economic sectors waiting for value-based banking support:PM

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Economic sectors waiting for value-based banking support:PM
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March 8: Prime Miniser Pushpa Kamal Dahal has stressed on the need of investment in the productive sectors of the country for poverty reduction and employment generation. He made such remarks at the inaugural session of the 9th Annual GABV (Global Alliance for Banking on Values) Conference organized by NMB Bank in the capital on March 7.“These factors will automatically contribute to the Human development Index (HDI) of Nepal,” he said.

 Addressing the event, he mentioned, “We need a shift from the remittance-based economy as it is not going to help us in the long term.” Dahal highlighted of the need of international standard mega projects to transform the country. He said that sectors such as agriculture, tourism, small and medium scale enterprise (SMEs), energy, transportation and ICT are waiting for value-based banking support.

The three-day conference is being attended by top dignitaries in the country including ministers, central bank governor, deputy governors, top level government officials and chairmen of financial institutions. Similarly, CEOs and senior executives from 43 leading sustainable financial institutions operating in 28 countries across Asia, Africa, Australia, Latin America, North America and Europe totaling 120 participants are attending the conference.  

Speaking at the conference, Dr Chiranjibi Nepal, Governor of Nepal Rastra Bank (NRB) said that the government and the central bank are emphasizing on value-based banking by focusing on micro-finance. He further stressed on the necessity of sustainable banking system with diversity and transparency.  “Collaborative approach is needed to promote value based banking,” he said.

Upendra Poudyal, CEO of NMB Bank highlighted on the importance of value-based banking in Nepal as it focuses more on general people and impact positively on their social lives. The conference which started with the theme ‘Shifting the Financial Paradigm – Courage to Act Together’, invites for action and joint effort in the areas of the value based banking for the advancement of real economy. Pawan Kumar Golyan, Chairman of NMB Bank said that GABV meet aims to advocate changes in the banking sector.

Stating that the highest peak of the world Mount Everest and deepest values of Gautam Buddha makes connection for banking values, Peter Blom, Chairman of Global Alliance for Banking on Values (GABV) said, “Nepal being a beautiful country with highest peak in the world and deep Buddha value connects to banking values.”

 

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