KATHMANDU, JUNE 28
Nepal Rastra Bank Governor Maha Prasad Adhikari returned on Tuesday from the 93rd annual meeting of the Bank for International Settlements (BIS) held in Basel, Switzerland.
During the two-day meeting, Governor Adhikari engaged with representatives from various central banks and monetary authorities of member countries of the BIS.
One of the highlights of the meeting was Governor Adhikari's participation in a panel discussion titled 'Policy Approaches for Addressing Risks Posed by Crypto Assets and Decentralised Finance', organized by the Financial Stability Institute on June 25. He provided valuable insights on the challenges posed by cryptocurrencies and shared Nepal's policy framework to address them.
BIS General Manager Agustín Carstens presented the BIS Annual Report during the meeting and addressed the challenges related to high exchange rate volatility and financial stability that exert pressure on central banks worldwide.
Governor Adhikari also took part in a session titled 'Overcoming Cross-border Payment Challenges for Emerging Markets and Developing Economies (EMDEs)' held on June 26. The session included discussions on the topic of Central Bank Digital Currency (CBDC).
During the event, Governor Adhikari had a meeting with the Governor of the State Bank of Pakistan, Jamil Baqir, where they discussed important subjects such as exchange rates, financial stability, and external sector management.
Throughout the meeting, Governor Adhikari actively gathered information about various projects undertaken by the BIS Innovation Hub.
The BIS, established in 1930 and headquartered in Basel, Switzerland, is an international financial institution that plays a crucial role in coordinating and implementing monetary and financial stability efforts among its 63 central bank members from around the world.
A version of this article appears in the print on June 29, 2023, of The Himalayan Times.
