Section 16: Qualifications of Director

1) The person to be appointed to the office of Director shall have to possess the following qualifications:-

(a) Having had work experience of five years as a Director or office bearer level of a foreign or local bank or financial institution or of body corporate of related sector or in officer level of Government of Nepal, or

(b) Having attained a bachelor’s degree and had work experience of at least three years as a Director or office bearer level of a foreign or local bank or financial institution or of body corporate of related sector or at least in officer level of Government of Nepal, or

(c) Having attained a master’s degree in the related subject as prescribed.

2) Notwithstanding anything contained in sub-section (1), the academic qualifications and experiences of the Director of a financial institution of class “D” shall be as prescribed by the Rastra Bank from time to time.

Provided that the qualification of independent Director shall be as mentioned in Section 17.