Central bank discourages Nepalese from investing abroad – Times of India

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KATHMANDU: Nepal’s central bank on Friday banned Nepalese citizens from investing abroad, warning that such a move would lead to severe penalties. This is evident from a message from Nepal Rastra Bankthe country’s central bank, Nepalese citizens are not allowed to buy land, house, real estate, bonds and deposit money in foreign banks and financial institutions abroad.
Except under the provision specifically stated by the bank, no one will engage in making these types of payments abroad, the notice said. The bank urged citizens not to perform work related to payments abroad. The message also warned that if anyone breaks the rules, strict action will be taken under applicable laws.
In April 2022, the Central Bank of Nepal announced the import ban on vehicles and other luxury items due to the liquidity crisis. Nepal’s foreign exchange reserves rose about 3% in mid-December to $9.8 billion — enough to cover 8.7 months of imports — from mid-July levels, according to central bank data.





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