Kathmandu. Nepal Rastra Bank (NRB) has amended three regulations. The Rastra Bank has amended the Remittance Regulations 2067, Nepal Rastra Bank Money Exchange Licensing and Inspection Regulations 2077 and Nepal Rastra Bank Foreign Exchange Licensing and Inspection Regulations 2077.

Money exchange i.e. foreign currency exchange agents will now have to submit a mandatory police report. Nepal Rastra Bank, Department of Foreign Exchange Management has made this provision by amending Money Exchange Licensing and Inspection Regulations, 2067 and Foreign Exchange Licensing and Inspection Regulations, 2077 on Friday.

Amending the Nepal Rastra Bank Remittance Regulations, 2067, the department has stipulated in sub-regulation 3 of regulation 4 that in order to obtain a license or renew a license, proof of no criminal background (criminal record) has to be submitted in the police report. Even if the person is found to be a criminal, there is a provision in the regulations to submit proof that 5 years have passed since the person has paid the sentence.