Banking News

Nepal central bank prohibits overseas investments

The central bank of Nepal has imposed capital controls prohibiting Nepalis from making foreign investments, according to a notice published January 13.

The notice forbids purchasing real estate, property or equities abroad, or transferring capital to foreign bank accounts.

Nepal Rastra Bank cited a 2019 law, the Foreign Exchange Regulation Act. This law gives the central bank the power to regulate external payments and the export of securities.

Nepal has suffered from high inflation, which

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