Nepal Rastra Bank makes Maya Declaration commitment

Nepal Rastra Bank (NRB), an AFI member institution, today announced its Maya Declaration Commitment to increase financial inclusion in Nepal. The Commitment acts in accordance with the central bank’s stated objectives, strategic plan and policies.

NRB committed to increase financial literacy in the nation through the development of a national level Financial Literacy Strategy by mid-2014. The bank will also disseminate financial literacy materials to promote public awareness, and conduct a program called “NRB with Students” at the school level to enhance financial literacy among students.

Additionally, Nepal’s central bank will direct a national level survey on rural credit and produce a Financial Sector Development Strategy before the end of 2014.

Finally, NRB aims to improve the quality of existing mobile money services, as well as introduce new mobile money services for the poor under the financial and technical support of donor agencies before the end of 2014.