Nepal’s digital future

Digital innovation has boosted fintech, but its future depends on addressing operational risks.

Nepal's fintech industry has rapidly grown in recent years thanks to the government’s prioritisation of digitisation through the Digital Nepal Framework 2019 and significant actions taken by the Nepal Rastra Bank (NRB), with crucial role played by Banking and Financial Institutions (BFIs) and Nepal’s private companies. The NRB is the main regulatory body that forms policy provisions and oversees the BFI's fintech development. The NRB has licensed numerous Payment System Operators (PSOs) and Payment Service Providers (PSPs), created a department dedicated to payment systems and passed the required legislation.