8th February 2025, Kathmandu
The Nepal Remitters Association (NRA) has raised an alarm about ongoing misleading campaigns against banks and financial institutions in Nepal. These activities, primarily spreading through social media, aim to confuse the public and destabilize the financial sector.
NRA Fights Financial Misinformation
In a recent press release, the NRA highlighted that false and harmful statements have been circulating online, confusing the operations of banks and financial institutions. The association stressed that these institutions operate in line with Nepal Rastra Bank’s (NRB) policies and guidelines, ensuring the public’s trust is well-placed.
Public Urged to Trust Official Sources
The NRA urged the public to avoid giving attention to misleading comments and to rely solely on official statements issued by regulatory bodies, including NRB. By following the guidance of these institutions, people can stay informed about the true state of the banking sector.
Call for Legal Action
The association also called on the government and relevant authorities to take swift action against those spreading false information. These actions can mislead the public and deprive them of their basic right to access banking services. The NRA is advocating for legal consequences for those responsible for creating unnecessary panic.
Role of the Nepal Remitters Association (NRA)
The NRA represents remittance companies and financial institutions approved by Nepal Rastra Bank. Since its establishment in 2004, the NRA has been a collective voice for the remittance industry, advocating for long-term economic growth, poverty alleviation, and the expansion of financial access. The association remains committed to improving the sector’s stability and helping foster an environment of trust.
Protecting Public Confidence
By issuing this statement, the NRA aims to reassure the public that Nepal’s banking system remains secure and regulated. The association’s primary goal is to maintain public confidence in the financial institutions that follow the legal and regulatory framework set by NRB.
Urgent Appeal for Stronger Enforcement
The NRA’s press release further emphasized the need for stronger enforcement against individuals or groups spreading misleading content. These activities are not only harmful to the banking sector but also put the public at risk of losing access to essential financial services. The NRA believes that decisive action by the government will protect the integrity of Nepal’s financial system.
Commitment to Financial Stability
The Nepal Remitters Association’s commitment to ensuring a stable, secure, and reliable financial environment for all Nepalis remains unwavering. It continues to work closely with the government and regulatory bodies to foster an inclusive and trustworthy financial ecosystem for the country’s continued growth.
For more: NRA Fights Financial Misinformation
