KATHMANDU: The Nepal Rastra Bank (NRB) has unveiled a 5-year fintech strategy framework aimed at making the country’s digital financial system modern, secure, and reliable. Introduced by the central bank’s payment systems department, the strategy focuses on promoting financial inclusion, expanding access, and supporting sustainable economic development.
According to the central bank, the strategy is built upon policy reform, effective regulation, robust digital infrastructure, and collaboration among stakeholders. Its primary objectives include increasing the reach of digital financial services, encouraging healthy competition within the financial sector, and reducing service costs through innovation. The framework also aims to mitigate potential risks to financial stability.
The strategy is categorised into three main pillars: modernising digital infrastructure and developing new technologies for regulation and supervision, establishing a fintech-friendly policy and legal framework, and ensuring secure service delivery through reliable systems, including cybersecurity.
The initiative covers fintech companies, licensed financial institutions, and all digital service users. It specifically prioritises small and medium-sized enterprises, residents in rural areas, women, youth, and workers involved in the gig economy.
The central bank believes that the implementation of this 5-year strategy will lead to the creation of a secure, reliable, inclusive, and innovative digital financial ecosystem in Nepal.
