Nepal to let foreigners have majority bank stakes

NEPAL - Nepal announced on 10 July it would let foreign players hold majority stakes in joint venture banks as part of a drive to open up its banking sector to outsiders.

Under the new rules, foreign players will be able to boost their stakes to up to two-thirds in joint venture banks, Finance Minister Ram Sharan Mahat told reporters.

A number of joint venture banks have been opened since Nepal allowed foreign investors to enter its banking sector in 1984 but they were not allowed to own more t

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