Kathmandu. Nepal Rastra Bank has established qualifications to become founders and chief executive officers (CEOs) of banks and financial institutions (Infrastructure Development Bank). Rastra Bank has issued a directive and said that it has made a new provision regarding the qualifications of founder CEOs of banks and financial institutions.

According to the new system, only persons who have not been bankrupt or have not been convicted of corruption, dishonesty or fraud can become directors or chief executive officers. This provision has been made by amending/modifying and adding to the integrated directive, 2078 issued by Rasht Bank to banks and financial institutions.

In the police report, criminal background is not shown or if criminal background is shown, 5 years should have passed since the punishment has been paid and the provision has been added. Similarly, if a person has a criminal background in the police report, if 5 years have not passed and the person has not been cleared after paying the sentence, they cannot become a director or CEO, according to the Rastra Bank.