Nepal Rastra Bank (NRB) has mandated that casinos and similar institutions must obtain official permission (licensing) before engaging in foreign currency transactions. In a notice, the central bank stated that this new provision aligns with Section 3 of the Foreign Exchange (Regulation) Act, 2019, which requires prior approval for conducting foreign exchange activities.
Recalling that various regulations related to foreign exchange have already been issued, NRB clarified that a new arrangement has been introduced regarding granting permission to casinos for engaging in foreign exchange transactions. According to the notice, casinos and similar entities must obtain approval to conduct or facilitate transactions involving foreign currency, including Indian currency.
Additionally, the central bank has issued an integrated directive on payment systems, setting limits for transactions made through prepaid, debit, and credit cards. Under the new provision, debit card transactions are now limited to a maximum of NPR 20,000 per transaction. Similarly, daily transactions are capped at NPR 50,000 — a reduction from the previous limit of NPR 100,000 per day.
For prepaid cards, the limit has been set at NPR 10,000 per transaction, with a daily maximum of NPR 20,000 and a monthly cap of NPR 200,000. The central bank noted that there has been no change in the existing rules regarding prepaid card usage.
In the case of credit cards, the previous provision remains unchanged, allowing transactions up to 10 percent of the approved credit limit.
