Weather NBL reforms
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ISSUE #103 (19 JULY 2002 - 25 JULY 2002)
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The Bank of Scotland of which the ICC Bank is part began work aimed at turning around the Nepal Bank Limited this week. The management consultants will replace the bank's top management and take over the day-to-day functions, while also updating accounts and trying to shore up the ailing bank. The management consultants are required by contract to prepare a detailed action plan within 45 days of beginning work, which will be implemented after it is approved by the central bank. Similar reforms at the Rastriya Banijya Bank remain up in the air following the decision of Deloitte Touche Tomahatsu (DTT) to not take up the job.
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