Kathmandu. Advocate Yubaraj Safal has approached the Commission for the Investigation of Abuse of Authority (CIAA) seeking details of the investment of 10 million US dollars brought in by Kumari Bank to invest in the underprivileged, women entrepreneurs and small and medium enterprises. Advocate Safal has approached the CIAA raising doubts about the loan worth 10 million US dollars brought by the bank from abroad. The case has raised more questions about Kumari Bank, which has been embroiled in many controversies.
According to the information available, Kumari Bank had signed an agreement on July 10, 2080 with an organization named EMF Microfinance Fund, AGmvK, based in Liechtenstein, Europe for a loan of 10 million US dollars. The bank has said that this amount has been brought with the objective of investing in the underprivileged class, women entrepreneurs, and small and medium enterprises (SME) sectors. The bank also claims that the loan has been fully repaid by July 2024.
However, according to Safal, both the process of taking and repaying the loan is not free from serious questions.
The first question raised is the need for credit. At that time, there was more liquidity in the banking system in Nepal and the interest rate was comparatively low. In such a situation, it is not clear what was the compulsion to borrow dollars from abroad or what the business requirement was.
The second question relates to the structure and resources of the lending institution. It has been claimed that there is not enough public information about the beneficial ownership, source of investment and actual financial background of the organization. “This has raised suspicion that there was no attempt to bring unsourced money to Nepal under the cover of foreign loans or to show black money as legitimate,” he said.
Where did the debt go?
Although the purpose of the loan is to provide subsidized financial access to the poor, women entrepreneurs and small businesses, the details of the actual disbursement have not been made public.
If the money has reached these groups, then in which projects have been invested? How many borrowers were benefited? And how did the situation arise to fully repay the loan within a year? Questions have been raised.
Moreover, it is beyond natural that there is no problem, rescheduling or bad loans in the use and withdrawal process of such a huge amount, Safal has demanded an independent investigation.
Demand for Fair Investigation
In his writ petition, Safal has demanded an independent and impartial investigation into the justification of the foreign loan, the actual use of the money, the background of the lending institution and the entire transaction.
Kumari Bank, which has been embroiled in various controversies in recent times, has also been under increasing surveillance by the regulatory body. In particular, the question of whether the $10 million brought by the organization, which was accused of trying to hide loan files to avoid oversight by the NRB, was really spent on the targeted group.
Now, the issue of how the CIAA proceeds with this complaint and what conclusions the concerned agencies draw has drawn the attention of the banking sector g.
https://arthakhabar. com/2026/05/27/72758/
https://arthakhabar. com/2026/05/27/72745/
https://arthakhabar. com/2026/05/27/72745/
https://arthakhabar. com/2025/11/27/66150/
https://arthakhabar. com/2025/11/10/66191/
प्रतिक्रिया दिनुहोस्
