Mahalaxmi Bikas Bank Establishes Election Officer’s Office for 24th Annual General Meeting
29th December 2025, Kathmandu
Mahalaxmi Bikas Bank Limited has officially moved into the final stages of its governance cycle by establishing the Election Officer’s Office at its central headquarters in Darbarmarg, Kathmandu. This setup is a prerequisite for the upcoming 24th Annual General Meeting (AGM), which serves as the most critical event for the bank’s shareholders and management.
MBBL Establishes Election Officer’s Office
The primary function of this office is to oversee the democratic selection of the Board of Directors, ensuring that the process is transparent, legally sound, and compliant with the stringent regulations set by Nepal Rastra Bank for Class B development banks. By centralizing the election operations in Darbarmarg, the bank aims to provide a reliable point of contact for all stakeholders and candidates involved in the leadership transition.
UNDERSTANDING THE PURPOSE OF THE ELECTION OFFICER’S OFFICE
The establishment of this dedicated office is far more than a logistical necessity; it is a commitment to corporate governance and transparency. The Election Officer’s Office is responsible for the entire lifecycle of the board election, from the initial call for nominations to the final tallying of votes during the AGM. Its presence ensures that every shareholder, whether a major founder or a small scale retail investor, has access to the same verified information. This year, the office carries the heavy responsibility of managing an election that will define the strategic path of the bank for its next term, making its operational integrity a top priority for the institution.
COMPOSITION OF THE NEW BOARD OF DIRECTORS
A key highlight of the upcoming 24th AGM is the election of six prominent positions on the Board of Directors. In accordance with the bank’s bylaws and the prevailing Banking and Financial Institutions Act (BAFIA), the board must represent a balanced mix of its owners. The election is structured to fill the following slots:
- Three directors from the Founder Shareholders Group
- Three directors from the General Public Shareholders Group
This 50-50 split between founders and the public ensures that the interests of all investors are represented in the high level decision making processes. The directors elected during this session will be responsible for overseeing the bank’s risk management, financial health, and long term growth strategies in an increasingly competitive Nepalese banking market.
ELECTION SCHEDULE AND KEY DATES FOR SHAREHOLDERS
The formal election program is scheduled to commence on Poush 13, 2082. This date marks the beginning of the official timeline for candidate filings, reviews, and the publication of the final list of eligible voters and contestants. Shareholders are encouraged to visit the Election Officer’s Office or the bank’s official website regularly to stay updated on these milestones. The office has emphasized that all procedural announcements and updates will be displayed prominently on the central office notice board, ensuring that no eligible voter is left out of the process due to a lack of information.
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APPOINTMENT OF SENIOR ADVOCATE AS ELECTION OFFICER
To guarantee the legal sanctity of the process, Mahalaxmi Bikas Bank has appointed Senior Advocate Ramchandra Subedi as the official Election Officer. His appointment brings a high level of legal expertise and impartiality to the proceedings. Under his authority, the office will verify the credentials of every candidate to ensure they meet the fit and proper test mandated by Nepal Rastra Bank. This oversight is crucial to prevent any legal disputes after the AGM and to ensure that the individuals leading the bank possess the required professional integrity and background to manage a national-level development bank.
ROLE OF THE AGM IN CORPORATE GOVERNANCE
The Annual General Meeting is the supreme body of a public company, where shareholders exercise their ultimate power by voting on resolutions and electing leadership. For Mahalaxmi Bikas Bank, the 24th AGM is an opportunity to review the financial performance of the past year and approve the future roadmap. Beyond the election of directors, shareholders will also deliberate on dividend proposals, audited financial statements, and the appointment of external auditors. The establishment of the election office ahead of time allows for these complex governance tasks to be handled in a structured and calm manner, reducing the risk of administrative errors on the day of the meeting.
SHAREHOLDER PARTICIPATION AND TRANSPARENCY MEASURES
Mahalaxmi Bikas Bank has placed a strong emphasis on inclusive participation. The bank recognizes that the strength of a financial institution lies in the trust of its shareholders. By providing a dedicated physical space for election inquiries in Darbarmarg, the bank is encouraging active engagement. Shareholders are urged to ensure their KYC details are updated so they can receive all official communications regarding the AGM and the election. This proactive approach to transparency not only satisfies regulatory requirements but also strengthens the bond between the bank’s management and its diverse shareholder base.
THE IMPACT OF LEADERSHIP ON BANKING STABILITY
The outcome of this election will have a direct impact on the bank’s operational stability. The Board of Directors is responsible for hiring the senior management, setting the internal audit policies, and ensuring that the bank complies with the monetary policies of the central bank. As Mahalaxmi Bikas Bank continues to expand its digital footprint and lending portfolio, having a visionary and capable board is essential. Investors and market analysts often look at the composition of the board as a leading indicator of a bank’s future performance, making this Poush 13 election a highly watched event in the Nepalese capital market.
CONCLUSION AND NEXT STEPS FOR ELIGIBLE VOTERS
In conclusion, the establishment of the Election Officer’s Office at the central office of Mahalaxmi Bikas Bank Limited marks a successful start to the 24th AGM season. With a clear focus on transparency, legal compliance, and fair representation for both founder and public shareholders, the bank is setting a high standard for corporate governance. Shareholders should now focus on the upcoming Poush 13 deadline and prepare to participate in the democratic process that will shape the bank’s future. The office stands ready to assist all stakeholders in making this election a success for the institution.
