SEBON Directs BFIs to Implement ASBA Effectively

February 27: Securities Board of Nepal (SEBON) has directed ASBA certified banks and financial institutions (BFIs) to provide effective services to the general public. The ASBA system was implemented since last January 15 by SEBON. Till date, 41 BFIs have been affiliated with ASBA system. However, complains about the service being complicated were on the rise upon which SEBON directed the BFIs to provide effective ASBA services. 

According to the board, after implementation of ASBA, some of the ASBA certified BFIs were unable to provide the services effectively during the public offerings. The board directed BFIs to conduct required training and interaction programs immediately to increase capacity of their employees in order to implement and ease ASBA services. Moreover, the board also requested to notice the board about any difficulty in the implementation of the system.