Chairman of APRACA
Director General , Banking Supervision
National Bank of Cambodia
It is a great honor and privilege for me to represent the National Bank of Cambodia, APRACA’s current chairman institution, as new Chairman of APRACA, succeeding the late H.E. Mr. Pal Buy Bonnang.
Vice Chairman's Message
Vice Chairman of APRACA
Deputy Governor of Bangladesh Bank
This is my opportunity and privilege to convey a message expressing my gratitude and appreciation to the member institutions of General Assembly of APRACA for electing Bangladesh Bank as the vice-chairman for the next biennial 2012-2014.
- Lao PDR(2)
- Rep. of Korea(1)
- Sri Lanka(6)
Nepal Rastra Bank
Nepal Rastra Bank (NRB), the Central Bank of Nepal, was established in 1956 under the Nepal Rastra Bank Act, 1955, to discharge the central banking responsibilities including guiding the development of the embryonic domestic financial sector. Since inception, there has been a significant growth in both the number and the activities of the domestic financial institutions.
To reflect this dynamic environment, the functions and objectives of the Bank have been recast by the new NRB Act of 2002, the preamble of which lays down the primary functions of the Bank as:
• to formulate necessary monetary and foreign exchange policies to maintain the stability in price and consolidate the balance of payments for sustainable development of the economy of the Kingdom of Nepal;
• to develop a secure, healthy and efficient system of payments;
• to make appropriate supervision of the banking and financial system in order to maintain its stability and foster its healthy development; and
• to further enhance the public confidence in Nepal's entire banking and financial system.
The Bank is eminently aware that, for the achievement of the above objectives in the present dynamic environment, sustained progress and continued reform of the financial sector is of utmost importance. Continuously aware of this great responsibility, NRB is seriously pursuing various policies, strategies and actions, all of which are conveyed in the annual report on monetary policy.
NRB has also played an important role in building up prudential and institutional mechanism to avail microfinance easily and smoothly to promote the income generating activities of the rural households. With the adaptation of liberalized regime by NRB in 1991, this paved the way for the growth of Grameen Bikas Banks and Replicates.
The Rural Self Reliance Fund (RSRF) was established in 1991 to provide credit to the rural deprived people for carrying out income generating activities using their skills, labors and other local resources, and thereby help the people to achieve economic self-reliance over the years. Initially, Government of Nepal provided a corpus fund of Rs. 20 million to the RSRF. During its establishment Nepal Rastra Bank also provided Rs. 100 million in this fund to boost up the capacity of micro finance institutions specially cooperatives & NGOs (micro credit institutions).