Kathmandu. Now, prior approval of Nepal Rastra Bank is not required for the  foreign investment in Nepal.

The current approval of foreign investment is being sought by modifying the current system of not allowing foreign investment in Nepal without the prior approval of the NRB.

 Nepal Rastra Bank has made such arrangement by issuing Foreign Investment and Loan Management Regulation 2077 made public for suggestions.

According to the regulations, prior approval of investment is not mandatory for foreign investors wishing to send foreign currency to Nepal through the banking system.

Bam Bahadur Mishra, head of the foreign department of the National Bank of Nepal, said that new arrangements are being made to attract foreign investment. Mishra said that the new arrangement is being made now as the approval of many bodies has to be obtained while bringing in foreign investment and investors are discouraged because of that.