4th December 2024, Kathmandu
The Stock Brokers Association of Nepal has witnessed the formal announcement of candidacies for its new executive committee. At an event held today, the group led by Sagar Dhakal revealed their nominations for various key positions.
Sagar Dhakal Group’s Bold Vision
Dhakal is running for the position of President, with Nitesh Kumar Agrawal as Vice President, Bhakti Ram Ghimire as General Secretary, Madan Poudel as Treasurer, and Krishna Giri as Secretary. Other members vying for positions include Jayant Srivastava, Atit Lal Shrestha, and Hari Prasad Wagley.
During the event, Dhakal shared a 23-point agenda outlining his commitments to advancing Nepal’s capital market. Key highlights of his manifesto include:
Development of Essential Financial and Trading Instruments: Initiatives to introduce margin trading, intra-day trading, short selling, and equity derivatives.
Enhanced Investment Services: Efforts to expand advisory, margin lending, and guarantee services while empowering stockbrokers to act as qualified institutional investors.
Expansion of Transaction Limits: Advocating for an increase in transaction limits for brokerage firms. Currently, firms are allowed to trade up to 25 times the bank guarantee submitted to the Nepal Stock Exchange. Dhakal proposes increasing this limit to 50 times.
Regulatory Amendments: Lobbying for amendments to regulations allowing stockbrokers with a minimum capital of NPR 200 million to provide margin lending and investment management services.
Dhakal’s agenda aims to modernize Nepal’s capital market ecosystem, ensuring greater opportunities for both brokers and investors while aligning with global financial practices. His candidacy has sparked significant interest among stakeholders, with expectations for transformative leadership.
For more: Sagar Dhakal Group’s Bold Vision
