Securities Board of Nepal to Abandon Dual IGIN System
Summary
The Securities Board of Nepal is set to abandon the dual IGIN system proposed by CDS & Clearing Limited to separate promoter and ordinary shares, citing non-alignment with international practices.
Key Points
- The Securities Board of Nepal will not advance the dual IGIN system introduced by CDSC.
- Chairman Gopal Bhatta stated the dual IGIN system does not align with international standards and practices.
- CDSC had proposed the dual IGIN system to improve transparency and organization in Nepal's capital market.
- The directive to provide separate IGINs for promoter and ordinary shares has not yet been approved by the Securities Board.
