And why Enron, Satyam Computers and Nepal Development Bank collapsed. OECD Principles on Corporate Governance. Presented by: GROUP 1, EMBA 2009, Corporate Law Bibek Pandeya Bikash Shrestha Sandesh Dhakal Sanjeeb Jha Sulabh Tuladhar. Introduction to OECD Principles.
Presented by: GROUP 1, EMBA 2009, Corporate Law
The Wall Street Journal
OECD focus on the following critical elements of desirable corporate Governance for the banks.
The central bank has stated that these officials committed crimes under Clause 95 of the NRB Act 2001 and embezzled bank assets and cash, which is a crime under Clause 1 and 2 of the Civil Code (Fraud).
The Association of Nepali Development Banks and the Association of Nepali Finance Companies have also asked NRB not to liquidate the bank, but to instead, make efforts to revive its financial condition by working together.
Board members are prohibited take loan from own company however, it is general practice to take loan directly or, indirectly.