Nepal, Adhikari, Kafle on shortlist

  • nrb governor selection
Nepal, Adhikari, Kafle on shortlist

Mar 18, 2015-

The three-member Governor Recommendation Committee has picked three names—economist Chiranjeevi Nepal and two Nepal Rastra Bank Deputy Governors Gopal Kafle and Maha Prasad Adhikari for the post of governor at the Nepal Rastra Bank.

The committee headed by Finance Minister Ram Sharan Mahat on Wednesday submitted the names to the Cabinet, which is expected to select one of them as head of the central bank at its meeting on Thursday. Economist Parthibheshwor Timilsina and former governor Himalaya Sumsher Rana are other members on the committee.

Nepal is currently serving as economic advisor to Prime Minister. Before taking up the current job, he had served as chief economic advisor at the Finance Ministry in the Khil Raj Regmi-led government.

PhD in economics, Nepal has been involved in teaching at universities for the last 28 years. He has experience of heading another regulatory body—Securities Board of Nepal and is credited for bringing reforms in the stock market.

An outspoken supporter of free market economy while discarding cooperative sector, he had courted criticism from the left parties when he was chief economic advisor at the Finance Ministry.

Kafle has been working as senior deputy governor at the NRB since December 26, 2010. He has been overseeing monetary policy, research, foreign exchange and public debt department at the bank.

He entered the NRB on October 10, 1982 as a third-class officer and he worked at different departments, including regulation, supervision, micro-finance, training centre and public debt management before being elevated to the current position.

The liquidation of Nepal Development Bank was among the NRB decisions taken under his watch as chief of the Financial Institution Supervision Department of NRB. As a deputy governor, he played a key role in opening the doors for NRB to invest on Chinese securities.

Holder of Master’s degrees in Economics from Tribhuvan University and the University of New England in Australia, Kafle is soft-spoken and friendly but lacks boldness, according NRB officials.

Another candidate Adhikari currently oversees the department that regulates and supervises the banks and financial institutions. NRB officials say Adhikari has a sound knowledge about the financial sector.

He has worked closely with the incumbent governor Yubaraj Khatiwada in implementing reform measures and also played a role in bailing out Nepal from possible

blacklist by Financial Action Task Force in money-laundering case.

Adhikari had joined the bank as an assistant-level employee in 1985. He headed the Nepal Bangladesh Bank management when the central bank took over the commercial bank’s reigns in 2006.


Published: 19-03-2015 07:41

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