First Business News Portal in English from Nepal
KATHMANDU: The Securities Board of Nepal (Sebon) is set to issue additional 35 licenses to brokerage companies amid huge rise in transactions in the secondary market in recent days.
Sebon Chairman Bhisma Raj Dhungana said they are planning to provide licenses to five new brokerage firms each in seven provinces following significant rise in the number of investors from outside the Kathmandu Valley.
Existing 50 brokerage firms in the country have been carrying out transactions worth over Rs 10 billion every day these days though they had transactions of around Rs 2 billion per day just a year ago.
Meanwhile, the plan to authorize banks to operate as stock brokers has been put on hold as the authorities concerned have failed to take firm decisions. Through the Monetary Policy for 2018, the central bank had announced to provide banks with brokerage licenses. However, the decision is yet to be implemented.
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