KATHMANDU: Nepal Rastra Bank (NRB) has announced that casinos and similar institutions must obtain prior approval to conduct any foreign exchange transactions.
The central bank has stated that the new provision aligns with Section 3 of the Foreign Exchange (Regulation) Act, 2019, which requires such transactions to be carried out only with authorization.
The NRB also clarified that specific licensing arrangements have been introduced to regulate foreign exchange dealings by casinos, including those involving Indian currency. The move aims to ensure compliance and strengthen oversight of foreign currency operations within entertainment and gaming institutions.
Additionally, the central bank has issued integrated directives concerning payment systems, revising transaction limits for debit, credit, and prepaid cards. Under the new rules, debit card transactions are capped at Rs 20,000 per transaction and Rs 50,000 per day, down from the previous daily limit of Rs 100,000.
For prepaid cards, the transaction limit remains unchanged at Rs 10,000 per transaction, Rs 20,000 per day, and Rs 200,000 per month. Credit card holders can still make transactions up to 10 percent of their approved credit limit.
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