Kathmandu: Nepal Rastra Bank( NRB) has warned that any investment abroad while staying in Nepal will be punished.
Recalling that Section 10A of the Foreign Exchange Act 2019 prohibits investment abroad, the Nepal’s central bank, NRB has cautioned anyone residing in Nepal not to and should not do any work related to payment abroad.
Releasing a notice, the NRB has said that if it is found to be doing transactions of a capital nature (except in accordance with the provisions set by NRB) such as buying real estate for investment abroad, buying property or making deposits in foreign banks and financial institutions, action will be taken according to the law. The Exchange Act 2019 has provisions in this regard.
In recent years, it was alleged that some people were involved in such anti-law activities.
