Two major broker associations in Nepal, the Stock Broker Association of Nepal (SBAN) and the Dhitopatra Brokers Association Nepal (DBAN), have officially merged.
SBAN’s President Dharma Raj Sapkota and DBAN’s President Sagar Dhakal signed the Memorandum of Understanding (MoU) formalising the merger on Wednesday, November 13.
Under the terms of the agreement, SBAN, which has a 31-year legacy, will be transformed into a unified professional organisation representing all securities professionals, brokers, and traders across Nepal. All DBAN members will be granted membership to SBAN.
The agreement outlines that DBAN will operate as an arm of SBAN, focusing on corporate social responsibility initiatives, investor education, and awareness programs.
In addition, the MoU specifies that securities professionals who are not yet members of either association will be encouraged and facilitated to join the newly unified body.
Krishna Giri, DBAN's General Secretary, emphasised that the merger was driven by the belief that there should be a single unified association for broker companies with common objectives. “We have moved forward with the belief that there should not be two organisations of broker companies that operate with the same objective,” said Giri.
The newly integrated organisation will elect a new working committee after the next annual general meeting.
Giri expressed confidence that the merger would lead to a stronger, more influential presence in the securities industry, paving the way for noticeable improvements in the sector.
