KATHMANDU: Nepal Telecommunications Authority (NTA) and Nepal Rastra Bank (NRB) today signed an understanding with an aim to develop and regulate mobile financial services.

NTA and NRB have also promised cooperation and coordination necessary for the services.

NTA acting chair Purushottam Khanal and NRB Governor Dr Chiranjibi Nepal signed on the documents on behalf of their respective sides, according to NTA Spokesperson Min Prasad Aryal.

The paper mentions the role and works of both organizations in order to make the development and regulation of mobile financial services more reliable and effective.