BAFIA, umbrella act of banks and finance companies, chapter 3, section 12 subsection (2) asks for independent expert director to be appointed for banks and financial institutions. But in most of banks and finance we do not find such provision to be complied.
Major Challenge for compliance:- the list of professional is maintained by NRB, many Banks and finance give reason, that even they wish to appoint independent expert director, they can't because of unavailability of such professionals.
Solution :- in my opinion NRB should include more professional in the expert list so that banks and finance will not escape the compliance of this provision…
pasang
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