KARACHI: A Memorandum of Understanding (MoU) has been signed between the State Bank of Pakistan and the Nepal Rastra Bank, the central bank of Nepal, to cooperate in the field of supervision and exchange of supervisory information. The cooperation between the countries is in accordance with Basel Core Principles for Effective Banking Supervision. The agreement was signed in a ceremony held on February 9, 2017 at the SBP head office in Karachi. This MoU is aimed at enhancing bilateral relationship and help share information to accomplish convergence towards common modalities and standards, in cross border supervision of banks, operating in both countries.
Published in The Express Tribune, February 10th, 2017.
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