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Program on Opportunities to Build Digital Nepal

Nepal Bankers’ Association, in collaboration with VISA organized a program titled “Opportunities to Build Digital Nepal”. The main objective of the program was to explore the potential of digital technology to transform the economy and improve the businesses through digitalization, where the experts from various sectors shared their insights and experiences on how digital services can support especially SMEs and Corporates in Nepal.

During the program, Mr. Nishant Kumar, Product Lead, Visa Commercial Solutions delivered a presentation focusing on VISA Commercial Solutions. He highlighted on the utilization of commercial cards tailored for business and corporate purposes, and how the SME debit and credit cards are designed to cater to the needs of SMEs for managing their business expenses efficiently.

After the presentation, the program was followed by a panel discussion on Digital Service to Support SMEs and Corporates, where distinguished panelists Ms. Niva Shrestha, Director of Payment System Department of Nepal Rastra Bank, Ms. Shruti Gupta, the Vice-President and Head of Commercial and Money Movement Solution of VISA., Mr. Sanjib Subba, Chief Executive Officer of Nepal Electronic Payment System and Mr. Bijendra Suwal, NBA representative and Former Deputy Chief Executive Officer of Nepal Investment Mega Bank, shared their valuable insights and perspectives on leveraging digital services to support for both SMEs and corporate entities, offering a comprehensive understanding of the evolving landscape of digital finance in Nepal.

During the program, NBA President, Mr. Sunil KC delivered remarks where he expressed gratitude towards VISA for their partnership and extended his thanks to all participants. He emphasized the pivotal role VISA could play in materializing Nepal’s vision of Digital Nepal by facilitating a comprehensive transformation of the economy through digitalization. Additionally, Mr. KC highlighted the importance of providing substantial support and advancement to the SME sector, recognizing its significance in the Nepalese economic landscape.

The Chief Guest of the program, Deputy Governor of Nepal Rastra Bank, Mr. Bam Bahadur Mishra mentioned about the pivotal role that Visa has played in driving forward the digitalization efforts in Nepal. Furthermore, he highlighted the proactive stance of NRB as a regulatory body, ensuring that any obstacles hindering the government’s Digital Nepal initiative are promptly addressed. He assured that the NRB remains committed to facilitate a conducive environment for digital development in the nation. Additionally, he pointed out the vast market potential that Nepal possesses at this emerging stage of its digital journey.

The program was concluded with the closing remarks from Country Manager of VISA, Mr. Saumya Basu, where he expressed appreciation to all participants for their participation and contributions throughout the event. The program was attended by Dr. Gunakar Bhatta, Executive Director, Payment Systems Department of NRB, NRB officials, officials from Bank and Financial Institutions, among others.