Kathmandu, December 19 - Doha Bank, one of the largest commercial banks in Qatar, has opened its liaison office in Nepal as per the permission granted by the central bank about six months ago.

The liaison office began its operation from today. “Doha Bank’s entry into Nepal will prove crucial to enhance bilateral, commercial and investment relationship between Nepal and Qatar,” said Doha Bank CEO R Seetharaman. “Doha Bank intends to enhance commerce and trade relationship between Nepal and Qatar and foster investment partnership with Nepali financial institutions basically in hydropower, agriculture and tourism.”

The liaison office intends to facilitate the flow of workers’ remittance from Qatar to Nepal. Doha Bank has already started partnering with Nepali banks and financial institutions to facilitate Nepalis working in Qatar to send money home. “With our support, Nepali workers in Qatar can gain better benefits from local banks in terms of interest rate and credit acquisition,” said officials of Doha Bank.

Doha Bank has said it can also become a gateway for Nepali banks to penetrate high growth markets in the Gulf region. “The representative office will closely work with Nepali financial institutions and business communities to enable them to reach out to high potential Gulf and Indian markets,” said Seetharaman. “We believe financial institutions in Nepal will be better served as a result of the establishment of Doha Bank’s representative office here,” said the bank in a statement issued today.
The representative office will also analyse the trend of the Nepali financial market and the economy.

Doha Bank is the third largest conventional bank by assets in Qatar and has one of the largest international networks among Qatari banks. The bank has branch offices in the UAE, Kuwait and India and representative offices in the United Kingdom, Germany, Turkey, Singapore, China, South Korea, Japan, Hong Kong, Australia, Canada, South Africa, Bangladesh and the latest one in Nepal.

Source: The Himalayan Times

Corporate News

NRB seeks commitment from commercial banks for mergers and acquisitions

Kathmandu, June 27-Nepal Rastra Bank today summoned chairpersons and chief executive officers of all 28 commercial banks in operation to discuss possible mergers and acquisitions in the future.

Read more ...

Remittance up by 20 %

KATHMANDU, June 19: Despite the declining number of people leaving for foreign jobs, the remittance into the country has increased by 20 percent, according to Nepal Rastra Bank report.

Read more ...

Govt plans to raise CGT on share transactions from next fiscal year

Kathmandu, May 26- The government is planning to increase the capital gains tax (CGT) on share transactions from the next fiscal year citing the need to usher in stability in the share market.

Read more ...

Civil Bank holds AGM

KATHMANDU, May 11: The Annual General Meeting (AGM) of Civil Bank Ltd has approved 14.30 percent dividend – 10.25 percent stock and 4.05 percent cash – to its shareholders. The event was held at Amritbhog in Kathmandu.

Read more ...
Symbol % Change Last Price Turnover
CMF1 11.1111 10.0 62,820.0
NMBHF1 11.1111 10.0 781,968.0
CLBSL 8.8235 555.0 920,390.0
AKPL 6.2147 188.0 611,238.0
RBSPO 4.9911 8,877.0 88,770.0
Symbol % Change Last Price Turnover
AKJCL -4.1667 69.0 24,660.0
RHPC -3.2258 90.0 6,773.0
SLBBL -2.8634 441.0 3,923,327.0
FMDBL -2.8497 375.0 8,263,115.0
SHPC -2.3904 245.0 241,660.0
Symbol % Change Last Price Turnover
NBL -0.2967 336.0 57,872,577.0
NLICP 0.7605 530.0 34,450,000.0
NABIL 0.1252 800.0 20,690,486.0
SHIVM 0.1647 608.0 14,969,934.0
NLICL -0.8475 585.0 12,930,543.0