National Assembly Approves Cooperative (First Amendment) Ordinance 2083
Summary
The National Assembly approved the Cooperative (First Amendment) Ordinance 2083 to address challenges in the cooperative sector, strengthen regulation, and comply with a Supreme Court directive.
Key Points
- The National Assembly approved the Cooperative (First Amendment) Ordinance 2083 by majority.
- Minister Pratibha Rawal presented the ordinance to address problems in the cooperative sector and secure depositors' funds.
- The ordinance strengthens the National Cooperative Regulatory Authority to improve supervision and prevent money laundering.
- The ministry is drafting two separate laws for cooperative registration and savings and credit cooperative regulation.
