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Nepal's president issues new laws to regulate cooperatives and protect depositors' funds.
Nepal's President, Ramchandra Paudel, has issued an ordinance to amend laws governing cooperatives.
The new measures aim to regulate savings and credit cooperatives, protect depositors' funds, and ensure accountability.
A National Cooperative Regulatory Authority will be established to oversee the sector, with provisions for securing up to Rs500,000 in savings and authorizing the sale of collateral to repay loans.
The ordinance also abolishes the National Cooperative Development Board and seeks to enhance transparency and responsibility within the cooperative sector.
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El presidente de Nepal emite nuevas leyes para regular las cooperativas y proteger los fondos de los depositantes.