KATHMANDU: Nepal Rastra Bank (NRB) has introduced a new provision requiring casinos and similar institutions to conduct foreign exchange transactions only with prior approval from the central bank.
In a recent notice, NRB stated that the new directive has been issued in accordance with Section 3 of the Foreign Exchange (Regulation) Act, 2019, which mandates that foreign exchange transactions must be carried out only with official permission.
The central bank highlighted that several regulations on foreign exchange have already been introduced and, under the updated framework, licenses will now be required for casinos to carry out such transactions—including those involving Indian currency.
Additionally, NRB has released an integrated directive on payment systems, which sets new transaction limits for debit, credit, and prepaid cards. Under the revised rules, debit card transactions are now 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, a maximum of Rs 10,000 per transaction, Rs 20,000 per day, and Rs 200,000 per month is allowed. These limits remain unchanged. In the case of credit cards, the existing rule allowing transactions of up to 10 percent of the approved credit limit continues to apply.
NRB stated that these measures aim to enhance oversight and ensure regulatory compliance in the use of foreign exchange and digital payment systems.
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