Kathmandu. Nepal Rastra Bank Bank and senior officials and shareholders of financial institutions are required to self-declare their assets abroad. On Thursday, the Rastra Bank issued a circular to the directors, chief executive officer (CEO), and large promoter shareholders of the bank and financial institutions. 

In addition to this, while appointing or nominating to the said posts, there must be a self-declaration of whether or not there is any property outside Nepal, whether or not there is any property outside Nepal, the owner or beneficiary of any property {{}. 

According to the circular issued by the Bank , this provision will be applicable not only in the process of appointment and nomination but also in the case of persons who are currently working . 

i. e., The incumbent directors, CEOs, office-bearers and big shareholders of the bank and financial institutions will also have to self-declare or not the assets abroad along with the property details. Similarly, the details of or not included in the blacklist related to domestic or foreign loans, or not involved in any crime, in case cases, investigations, alternative dispute resolution or judicial and administrative proceedings should also be disclosed ।

On the other hand, The bank has also made new provisions for the purchase and sale of promoter shares and large shareholders. Accordingly, is the real owner or at the time of the purchase or transfer of the promoter shares of or or {{} or {{} of the total paid-up capital of any } bank or financial institution or TAG_OPEN_span_{{}. 19}The details of the beneficiary have to be submitted to the bank . 

If the shareholder is an institution, then and the details of the actual owner or who have invested 15 percent or more of the shares or capital directly or indirectly in the organization as a single, joint or group entity should be {{{} and .

Similarly, the bank will also have tosubmit details of the incumbent directors, managers and the actual owners who own 5% or more than Rs 2.5 million in promoter shares. In case there is any change in the details so submitted, the concerned bank and financial institution shall mandatorily submit the updated details to the bank .