After nearly 11 months without leadership, the Nepal Securities Board (Sebon) has a new chairman. Santosh Narayan Shrestha, a seasoned businessman, was appointed during a Cabinet meeting on Monday evening, marking the end of a prolonged vacancy since January 6.
The appointment process was lengthy and challenging due to political disputes and procedural hurdles. Initially, 19 candidates applied for the position when the process began on February 28. After multiple setbacks, including legal complications and a Supreme Court order, Shrestha was finally selected from a pool of recommended candidates.
Shrestha’s leadership is expected to bring much-needed stability and direction to Nepal’s securities market. His experience and business acumen will likely play a key role in strengthening the market and fostering investor confidence.
For Nepalese living in the UAE, this is particularly good news. The long-pending IPO approvals caused by the lack of leadership at Sebon can now move forward. As many Nepalese in the UAE actively invest in Nepal’s stock market, this development provides an opportunity to participate in new IPOs, diversify their investments, and potentially benefit from Nepal’s growing securities market. Stay informed to capitalize on these upcoming opportunities!