12th December 2024, Kathmandu
The Nepal Bankers’ Association (NBA) is set to witness a leadership election for the first time in 13 years. Scheduled to take place during the annual general meeting on Poush 3 (December 18, 2024), the election will determine the Association’s president, vice-president, and three members.
NBA Faces Leadership Contest
The contest will feature a fierce rivalry between Santosh Koirala, Chief Executive Officer (CEO) of Machhapuchhre Bank, and Ashok Sherchan, CEO of Prabhu Bank.
Koirala’s Claim as Vice-President
Koirala has based his presidential bid on the NBA’s longstanding tradition of promoting the vice president to the position of president. He has already filed his nomination, emphasizing that his role as the current vice-president gives him a legitimate claim to the leadership.
Sherchan’s Break from Tradition
Challenging this tradition, Sherchan filed his candidacy for the presidency a day after Koirala’s nomination. His move marks a significant deviation from the usual practice, which could bring a fresh perspective to the NBA’s leadership dynamics.
Historical Leadership Patterns
The NBA’s tradition of selecting presidents from senior vice presidents or vice presidents has long been upheld. Prominent leaders such as Ashok Rana, Rajan Singh Bhandari, Upendra Poudel, Anil Shah, Gyanendra Dhungana, Anil Upadhyay, and Sunil KC have all ascended to the top post through consensus, following this unwritten rule.
The last competitive election occurred between Ashok Rana of Himalayan Bank and Sashin Joshi, where the banking community ultimately supported Rana. Since then, leadership transitions have been largely unopposed, maintaining a harmonious approach to selecting NBA’s presidents.
New Energy in Leadership Selection
Had Sherchan refrained from entering the race, Koirala’s presidency would have been unchallenged. However, this year’s election promises to inject new energy into the leadership selection process, offering NBA members a choice between adhering to tradition and embracing change.
Key Dates and Implications
The NBA’s leadership election will take place on Poush 3, 2081 (December 18, 2024), during the organization’s annual general meeting. This election not only signifies a shift in NBA’s internal dynamics but also reflects broader trends in the banking sector’s approach to governance and leadership.
Stay tuned as the Nepal Bankers’ Association prepares for a historic showdown between two seasoned leaders, Santosh Koirala and Ashok Sherchan, in a contest that could redefine its future direction.
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