Closing the Gap Between Policy and Practice Crucial for Market Momentum: SBAN President Dhakal

Kathmandu — Sagar Dhakal, President of the Stock Brokers Association of Nepal (SBAN), has stated that bridging the gap between capital market policies, regulations, and their practical implementation is vital for the country's economic transformation. Speaking at the 'Nepal Capital Market Discourse 2026' organized by Banking Samachar in Kathmandu, he emphasized that mere paperwork regulations are insufficient to attract foreign investment and that practical ease must be ensured.

Expressing dissatisfaction that even after three decades of capital market operations, trading in Nepal remains restricted to a limited set of financial instruments such as ordinary shares, debentures, and mutual funds, Dhakal pointed out the failure to effectively implement modern financial tools like derivatives, options, futures, and margin trading. He called for immediate amendments to the outdated Securities Act to align with evolving technologies and capital structures.

Dhakal further noted that creating a conducive environment to channel investments made by Non-Resident Nepalis (NRNs) and Nepalis abroad back into the domestic market would significantly boost foreign currency reserves and state revenue. Stressing the need to expand institutional and foreign investor participation to enhance market transparency, competitiveness, and reliability, he urged all stakeholders to collaborate in materializing the positive reform signals emerging under the new leadership of the Securities Board of Nepal (SEBON).