Nepal Rastra Bank Cancels Licenses of Lord Buddha and Stupa Money Changers

NRB License Cancellation

23rd November 2025, Kathmandu

The NRB License Cancellation action was recently taken against two prominent firms.

NRB License Cancellation

Nepal Rastra Bank (NRB), the central bank, revoked the operating licenses of both Lord Buddha Money Exchange and Stupa Money Changer Pvt. Ltd.

This regulatory action highlights the bank’s strict enforcement of financial compliance. The licenses were cancelled due to a crucial failure to adhere to mandatory renewal deadlines. This serves as a strong signal to all regulated financial institutions. These money changers now lose their authorization to operate.

Reason for License Revocation

Nepal Rastra Bank specifically cancelled the licenses because of non-renewal within the stipulated time frame. All licensed money changers must renew their operating permits annually. The failure to complete this simple yet critical step triggers immediate regulatory consequences.

NRB made the decision citing Regulation 19, Sub-regulation 3, of the Money Changer License and Inspection Bylaws, 2077 (with Fourth Amendment).

This specific section grants the central bank the power to cancel licenses that are not renewed on time. This is a common and necessary tool for regulatory bodies to maintain an active and compliant list of operators.

Formal Announcement by NRB

The Foreign Exchange Management Department of Nepal Rastra Bank formally announced the cancellation. They issued a public notice confirming the revocation of the licenses. This transparency is key to informing the public and other financial market players about changes in the regulated landscape.

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The notification clearly stated that the licenses of Lord Buddha Money Exchange and Stupa Money Changer were invalid due to the failure to meet the renewal window. The central bank actively manages the foreign exchange market. Taking such action ensures only compliant operators continue to provide services.

Impact on Foreign Exchange Market

Though the cancellation affects only two money changers, the message is clear. Nepal Rastra Bank will not tolerate procedural lapses. The smooth operation of the foreign exchange market depends on the reliability and compliance of all licensed entities.

The primary goal of these regulations is consumer protection and market stability. Operators who cannot meet basic administrative requirements, like timely non-renewal, present a higher risk. The NRB License Cancellation process therefore acts as a necessary filter.

It ensures only financially sound and responsible firms remain in business. This helps preserve the integrity of Nepal’s financial system. The central bank emphasizes that all licensed entities must treat compliance deadlines as non-negotiable.

Regulatory Framework and Compliance

The Money Changer License and Inspection Bylaws, 2077 were put in place to govern the operations of all foreign currency exchange businesses. These rules cover everything from operational procedures to inspection requirements.

Mandatory Renewal: All licenses require annual renewal. Failure to meet the deadline results in cancellation. NRB’s Authority: The central bank actively uses its authority to enforce compliance. Public Information: Public notices are utilized to inform stakeholders about any license revocations.

The prompt NRB License Cancellation serves as a strong reminder. All financial service providers must actively manage their compliance and administrative processes. This vigilance helps maintain trust in the entire financial sector.

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