Kathmandu : Mr. Sishir Kumar Dhungana, Secretary (Revenue), Ministry of Finance inaugurated the Banking Finance and Insurance Institute of Nepal Ltd. (BFIN) on 18th September, 2018 at a function attended by prominent speakers Dr. Atiur Rahman, former Governor of Bangladesh Bank, Dr. Satish Chandra, Senior Advocate from Government of India and Mr. BashyamRanganathan, Executive Vice President from Edelweiss Financial Services Limited of India along with Officials from Government Ministries, Regulatory Agencies, CEOs and officials from Commercial Banks, Insurance Companies, Development Banks, Finance Companies, Micro Finance Institutions,Capital Market Institutions, Credit Ratings, etc.The inauguration function was attended by more than 250 delegates and guests.
Mr. Sishir Kumar Dhungana at the opening ceremony highlighted the need for human resource development for the growth of the economy. He stated that financial sector has to play a key role in the mobilization of funds for the growth of the economy andtherefore, efficiency and effectiveness of this sector is very important to take the economy forward.Mr Dhungana noted that development of human capital is a priority for the Government of Nepal and that BFIN should meet the required gap in skills and knowledge existing in the entire financial sector in coordination and collaboration with the regulating agencies and institutions. He noted that BFIN should play a “Think Tank” role for the entire financial sector. He assured that Government’s support will be there in a noble task of developing capabilities and congratulated the entire team involved in establishment of BFIN and wished for a success of this Institute.
Dr. Atiur Rahman, Former Governor of Central Bank of Bangladesh, while addressing the opening ceremony, highlighted that the world economy is under pressure due to errors in policies across the globe. Lack of confidence and coordination among the States and the free fall of exchange rates of currencies are posing threats to many countries. Countries, therefore, should invest in human capital to develop leaders to face the emerging challenges in this global financial market.
Dr. BinodAtreya, Chairman of BFIN highlighted the Institutes’ vision, mission, objectives, future plans and programs of BFIN and requested all the players in the financial sector to join hands together by becoming the Member of this Institute and get exclusive benefits offered to the Members. At the opening ceremony, banks and financial institutions that have become the Member of this Institute have been awarded with a Membership Certificate. Membership Certificate was awarded to NIC Asia Bank Limited, Global IME Bank Limited, Nepal Investment Bank Limited, Nepal Credit and Commerce Bank Limited, Machhapucchre Bank Limited, Century Commercial Bank Limited, LaxmiLaghuBittaSangtha Limited and the Emerging Nepal Limited.
Mr. Lalmani Joshi, Chairman of the inauguration ceremony highlighted that the promoter Institutions of this Institute realized the growing demand of capacity development within the financial sector and therefore, established this Institute. He thanks all the Promoter Institutions and the banks and financial institutions, insurance companies, capital market and other institutions for their contribution to make this conference and inauguration ceremony a grand success.
Mr. Bhawani Dhakal, Board of Director of BFIN extended vote of thanks to Chief Guests, Chair of the session, other prominent speakers and other dignitaries, officials from financial sector, participants, media and all the stakeholders for attending the opening ceremony and making this event a grand success.
BFIN organized a day conference titled “Banks and Financial Institutions: Emerging Challenges, Opportunities and Threats” to mark the opening of BFIN. During the conference, three important subjects, i.e.; (a) Banks and Financial Institutions: Emerging Challenges, Opportunities and Threats (b) Merger and Acquisitions : Corporate Experiences from India , and (c) Financial Inclusions and Sustainable Development Goals (SDGs) was presented. Dr AtiurRahman, Former Governor of Bangladesh Bank, Dr Satish Chandra, Senior Advocate from India, and Mr. BassyamRangnathan Vice President of Edelweiss financialInstitution, India were among the prominent Speakers. Other Speakers were: Ramjee Regmi, Board of Director, NRB; Mr Mukunda Prasad Paudyal, Joint Secretary Ministry of Finance, Mr. Updendra Poudyal Representative, Asia Pacific, Global Alliance for Banking Values, Mr. Nirajan Kandel, Deputy CEO, Reliance Life Insurance Limited; Dr. Bimal Koirala former chief Secretary, Mr. Sashin Joshi, Senior Banker, Mr. Mahesh Kumar Guragain, Chairman Nepal Re-Insurance Co. Ltd, Mr. Guru Prasad Paudel, Director NRB; Mr. Khomraj Koirala, Joint Secretary National Planning Commission; Mr. Narayan Paudel, Executive Director , NRB; and Dr. BinodAtreya, Chairman of BFIN.
