Objectives
The major objectives of CBFIN are to bring positive and meaningful changes in the socio-economic lives of people by improving the services delivered by the banks and financial institutions across the country. CBFIN aims at ‘promoting and protecting’ depositors/investors and create a more investment friendly environment in the country for prosperous Nepal. As an umbrella organization of commercial banks, development banks and finance companies, it contributes effectively in developing sound financial system for shared prosperity.
a) To protect the rights of shareholders/investors and stakeholders by maintaining stability in the financial sector.
b) To maintain sound relations and strengthen coordination with the related state-owned bodies such as the Ministry of Finance, Nepal Rastra Bank, other related government ministries, Provincial Governments, local governments and other relevant bodies. It also focuses on supporting the government in formulating appropriate policies, rules, laws regarding the banks and financial sector and in investment front in creating appropriate business environment.
c) To coordinate and assist the CBFIN members in resolving various problems emerged in the financial sector including legal, procedural and technical issues and share information for empowering the members, organize seminars/interaction on specific policy issues, take initiatives to solve the problems for strengthening the financial sector.
d) To take initiatives in introducing latest technology in the banking and financial sector to make the sector more competent, efficient and secured.
e) To take initiative and make considerable efforts in making the banking transactions effective and dynamic by adopting the necessary policies, rules, procedures to provide fast and convenient modern banking services.
f) To establish information and communication links between the relevant bodies for the overall development and promotion of the financial sector in collaboration with national and international banks and financial institutions.
g) To maintain regular communications with the Nepal Rastra Bank and the related bodies to take stock of the challenges and issues faced by the banks and financial institutions and find appropriate solutions.
h) To support in the growth of banking and financial institutions by identifying potential areas for investment and expansion of banking business.
i) To provide valuable suggestions to the Nepal Rastra Bank, Ministry of Finance and other related bodies for reform.
j) To act as a liaison body between the banks and financial institutions and the Nepal Rastra Bank and other government ministries.
k) To coordinate with the members of CBFIN, discuss with them about potential risk in the banking and financial sector and compile related issues and support them with an appropriate solution.
l) To take necessary initiatives to enhance positive environment among the general public towards the banking and financial sector as a whole.