8 July 2024, Kathmandu
Shangri-La Development Bank Limited and the Department of Land Management and Archive, Kathmandu, under the Ministry of Land Management, Cooperatives, and Poverty Alleviation, Government of Nepal, have signed a memorandum of understanding (MoU) to facilitate the release of mortgage withholding through an online system.
Shangri-La Bank and Land Management Dept. Sign
The MoU was signed by Chief Executive Officer Suyog Shrestha on behalf of Shangri-La Development Bank and Krishna Prasad Sapkota, Director General of the Department of Land Management and Archive.
This agreement marks a pivotal step towards reducing physical crowding at customs offices and simplifying the process for customers, as highlighted by Director General Sapkota.
“The Nepal government is in the process of digitizing its agencies. This initiative will greatly reduce congestion in our offices, allowing customers to enjoy services in an easy and straightforward manner,” stated Sapkota.
Echoing this sentiment, CEO Shrestha emphasized the benefits for both banks and customers. “Releasing mortgage withholdings through an online system will streamline operations for banks and financial institutions.
It will also protect banks from fraudulent transactions and issues related to kirte korka (forged documents) and kirte landowner parts, which are prevalent today. Customers will be freed from unnecessary hassles.”
The signing ceremony was attended by key representatives from both organizations, including Harikrishna Subedi, Director of Personnel Administration Branch, Roshan Shankar Ghimire, Director of Land and Land Reforms Branch and Spokesperson of the Department, Bed Prasad Aryal, Director of Planning and Records Branch, and Harisharan Thapa, Computer Officer of Ground Information Technology.
This collaboration between Shangri-La Development Bank and the Department of Land Management and Archive signifies a major advancement in the digitization efforts of Nepal’s government agencies, promising enhanced efficiency and convenience for all stakeholders involved.
For more: Shangrila and Land Management Dept. Sign Online