KATHMANDU, SEPTEMBER 14
The Nepal Rastra Bank has made amendments to the Unified Circular-2021 related to institutions licensed to conduct foreign exchange transactions.
Issuing a circular today, the central bank has authorised banks and financial institutions to exchange the money collected through visa-related processes by foreign embassies and commissions located in Nepal.
The designated institution will have to submit the statement of such exchanges within 15 after the end of the month to the Foreign Exchange Management Department of NRB.
Similarly, countries that have established an e-visa system for people to apply for visas can also receive foreign currency exchange services by following the required criteria and through the electronic cards of the authorised banks and institutions.
The amount collected for the visa fee is to be paid from such a card directly to the statement account of the foreign country's government agency or the respective accounts of the embassies or commissions in Nepal.
Nepali visa applicants can pay the fee as specified in the e-visa system including for their joint family members using a foreign currency electronic card (prepaid, debit, credit, prepaid card of $500) issued in their name.
A version of this article appears in the print on September 15, 2022 of The Himalayan Times.
