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Kathmandu Saturday November 02, 2002 Kartik 17, 2057.
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Management hand-over of RBB,
NBL may take 6 months
Post Report
KATHMANDU, Nov 1 - The final number of companies
vying to compete for management contract of Nepal Bank Limited (NBL) and Rastriya Banijya
Bank (RBB) reached 42, excluding duplication, as the official deadline for application
ended mid-night Tuesday.
Nepal Rastra Bank source informed The Kathmandu
Post that an initial screening committee would short list the applications within a week
and then the final proposals would be invited. "The final proposal would include
detail modus operandi and management fee," said the source.
The short-listed companies will be given a
period of three months to submit the final proposal. A selection committee comprising of
NRB officials, and governemnt representatives will award the contract, possibly, within
six-months, said the source. However, such award will be subject to final review by the
World Bank, which has extended financial assistance for management hand-over.
Banking sector professionals say, among the
competitors, five world bank panellist consultant groups_ KPMG Barnet, Arthen Anderson,
Deloette H Tauch, Price Water Rice Cupers and Earnest and Young International_and their
local associates are the strong contenders to win the contract.
The management contract of the banks will be
initially for two years. The management team will be responsible for; taking complete
control of day to day running of the banks, providing immediate help to stabilize the
banks operations and restore their financial health to an acceptable level, working in
close cooperation with a locally recruited accountancy team (recruited as part of these
management contracts) to develop and strengthen the accounting capacity of the banks,
developing a comprehensive human resource policy for the banks and designing and
implementing an information technology plan for the banks.
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