Nepal Bankers' Association, Banking Promotion Committee has initiated a research project titled "Access to Finance (Microfinance)" from 2012. The research aims to find the demand and supply of financial services in the different areas of Nepal to draw a conclusion regarding the national scenario. The research survey covers eight districts selected randomly. It is expected that the findings will be available by FY 2013.
Nepal Business Forum (NBF, in short) is established with the Executive Order of Government of Nepal to facilitate Public-Private Dialogue in order to improve the investment climate and to ease the business-doing process for the overall economic development of the country.
There are four bodies to look after the matters related to NBF, at different levels. The topmost body is the High Level Business Forum chaired by the Prime Minister of Nepal. Next, there is a Steering Committee chaired by the Minister of Industry, Government of Nepal, which is also the Executive Body of NBF. There is another body, Private Sector Development Committee, chaired by the Chief Secretary of the Government of Nepal. The grassroot level body of NBF is the Working Groups. Both public and private sector are represented in these groups. There are six such groups at present. There are two Co-Chairs, one each from public and private sector in each of the Working Groups. NBF activities is supported by the NBF-Secretariat supported by the IFC (International Finance Corporation).
Finance, Insurance, and Monetary Working Group (FIMWG) is Co-chaired by NBA President on behlaf of private sector. The public sector Co-chair is represented by one of the Deputy Governors of Nepal Rastra Bank. There are around 3 members both from public and private sectors. Joint-Secretaries of Ministry of Finance, Ministry of Industry, and Ministry of Local Development are members from the public sector. Representatives from Forum of Nepalese Banks, Nepal Insurers' Association, and NBA comprises of members from private sector. The Co-chairs can decide about the members and invite other individuals too either as an Observer or Expert, or simply to increase the participation and discussion. The Working Group brings about the issues to facilitate the business-doing environment and improve the investment climate of the country. The joint meeting of public and private sector Co-chairs decides on these issues and recommends to the appropriate authority for its implementation. Issues that could not be decided on this level is forwarded to higher level bodies.
Till now FIMWG has brought forward several issues of which some are related to banking/financial sector and others to the insurance sector. Fourteen such issues has been resolved to date, which are as follows: