26th September 2025, Kathmandu
The National Cooperative Regulatory Authority (NCRA) and the Institute of Chartered Accountants of Nepal (ICAN) have signed a Memorandum of Understanding (MoU) aimed at enhancing the regulation, monitoring, and transparency of cooperatives across the country.
NCRA Sign MoU ICAN
The announcement was made at a press conference held on Friday at the NCRA’s office in Pulchowk, Lalitpur.
Alongside the MoU, the NCRA also introduced the “Registration and Documentation Standard, 2082” (2025/2026 AD), which will apply to cooperatives primarily engaged in savings and credit operations.
Key Highlights of the MoU and New Standards
The collaboration with ICAN focuses on improving financial discipline, transparency, and accountability in the cooperative sector.
Under the new standard, cooperatives engaged in savings and credit business must compulsorily register with the Authority at the federal, provincial, and local levels.
The NCRA announced that an online registration system will be officially launched starting from Asoj 2082 (September–October 2025).
This regulatory move aligns with the Authority’s long-term vision of creating a technical and transparent cooperative ecosystem.
Why This Matters for Nepal’s Cooperative Sector
The cooperative sector is one of the largest pillars of Nepal’s economy, engaging millions of people in community-based financial services. However, the sector has often faced criticism for poor financial governance and lack of oversight.
By collaborating with ICAN, the NCRA aims to:
Strengthen auditing and accounting practices in cooperatives.
Ensure compliance with financial regulations.
Promote sustainable cooperative growth that benefits both urban and rural communities.
The amendment of the Cooperative Act, 2074 (2017 AD) paved the way for the establishment of the NCRA, which is now working to make cooperative registration, monitoring, supervision, and regulation more robust and transparent.
Looking Ahead
The Authority expressed confidence that this collaboration with ICAN and the rollout of the new Registration and Documentation Standard, 2082 will help bring order and accountability to Nepal’s vast cooperative network.
This step marks a turning point in cooperative regulation in Nepal, ensuring that savings and credit cooperatives operate within a clear, transparent, and accountable framework—ultimately safeguarding the interests of members and strengthening public trust.
For more: NCRA Sign MoU ICAN