NRB Directs Casinos to Secure Approval for Foreign Currency Transactions

Nepal Rastra Bank (NRB) has ordered casinos across the country to conduct foreign currency dealings only after obtaining explicit permission from the central bank. The directive comes after reports surfaced that certain casinos were engaging in foreign exchange transactions without prior authorization.

In a notice issued on Friday, NRB emphasized that casinos must hold a valid license before carrying out such activities. Spokesperson Kiran Pandit stated that the instruction aims to ensure compliance with regulatory norms and prevent unauthorized operations.

The central bank’s regulations, outlined in Section 4 of the “Foreign Exchange Transaction License and Inspection Regulations, 2077 (2020),” provide the framework for granting casinos permission to conduct foreign currency transactions.