Bad governance has been good business for Nepal's corporate sector, alleged Surbir Poudel, chairman of the Security Board of Nepal (SEBON), on Friday.
Speaking at an interaction on good corporate governance in the capital, he said that the Nepali business community was yet to adopt a good corporate culture with adequate care of the general public's interest. The event was organised by the Nepal Stock Exchange (NEPSE) and the World Bank's private sector wing International Finance Corporation (IFC).
"Promoters think that the money collected from the general public is their own," he said. Citing Nepal Development Bank and Nepal Bangladesh Bank as examples of financial institutions earning a bad name for their governance, he said that there had been no clear separation between ownership and management.
President of Nepal Bankers Association Sashin Joshi stressed the need for a strong regulator to promote good governance. During the interaction, participants spoke about the situation of corporate governance in Nepal, international practices and how to implement good practices in family businesses and state-owned enterprises.
Padma Jyoti, prominent businessman and Constituent Assembly member, said that the Nepali private sector was yet to fully adopt a good corporate culture as the heritage of Nepal's business corporations was not so entrepreneurial.
Source: EKantipur
|
| share with your friends |
Saturday, June 20, 2009
Subscribe to:
Post Comments (Atom)
If you are interested to publish your own articles and stories related to stock exchange, then you may submit your articles via our email. If you are interested to display your picture, then you may send your passport size picture. Our contact email address is: 
No comments:
Post a Comment