Kathmandu. The Foreign Exchange Trading License and Inspection Regulations have been amended.

It is mentioned in the regulations that NRB has amended the rules to provide foreign exchange facility up to USD 10,000 to the universities that are open in connection with foreign universities. However, documents including AOU, affiliation registration certificate, no objection letter of affiliation of foreign university have to be provided.

Similarly, commercial banks will now be able to get a license by paying a lump sum of Rs 500,000. Development banks have to pay Rs 200,000 and finance companies Rs 20,000. NRB has also laid down the code of conduct for inspection officers in the regulations. This is the new system. In addition, the casino has been addressed for the first time.

The casino has to pay Rs 2.5 million per transaction and Rs 100,000 as fee to NRB to get a license to trade foreign currency. Its term will be 2 years. But in the case of games played with modern machines or equipment, one million rupees is paid per transaction. The fee will be only Rs 50,000.

Similarly, commercial banks can now get a license by paying a lump sum of Rs 500,000. Development banks have to pay Rs 200,000 and finance companies Rs 20,000. NRB has also laid down the code of conduct for inspection officers in the regulations. This is the new system. In addition, the casino has been addressed for the first time.

The casino has to pay Rs 2.5 million per transaction and Rs 100,000 as fee to NRB to get a license to trade foreign currency. Its term will be 2 years. But in the case of games played with modern machines or equipment, one million rupees per transaction is paid. The fee will be only Rs 50,000.

  After the amendment of business license and inspection regulations by Nepal Rastra Bank, banks and financial institutions no longer have to seek branch-wise approval to transact foreign currency.

Earlier, banks and financial institutions had to obtain licenses to trade foreign currency at each branch.