Central Bank Scraps Applications of 21 Companies to Bring in Foreign Investment

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Central Bank Scraps Applications of 21 Companies to Bring in Foreign Investment

September 18: Nepal Rastra Bank has scrapped the applications of 21 companies which had sought permission from the central bank to bring foreign investment in Nepal. The central bank said that it scrapped the application as the companies failed to reveal the source of investment. A total of 26 companies had filed application at the central bank. Among them, the 21 companies whose applications were scrapped were also out of contact.

NRB said that only five companies came into contact with the central bank. Two of them were granted permission to bring in foreign investment after they revealed the source of investment.

NRB has granted permission  to bring foreign investment of Rs 6.2 million to Anjali’s Dolphin Resort and Rs 10 million to GCC Resort.

Other three companies – Kailash Tibet Restaurant, Smart Tech Solution Pvt Ltd and Bodhi Garden Vegetarian Restaurant – are in the process of furnishing the details of the source of investment, said NRB officials.

 

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