September 30, Kathmandu.
Nepal Rastra Bank has prepared a five-year strategic framework to expand access to and use of digital financial services and to enhance innovation and competition in the fintech sector.
The ‘Fintech Strategy for Digital Financial Services’ prepared by the Payment Systems Department of Rastra Bank is proposed to be implemented from fiscal year 2026/27 to 2030/31. The strategy prioritizes fintech-friendly regulation, secure digital infrastructure, and collaboration among stakeholders.
The strategy aims to expand access to digital financial services, increase competition in the financial sector, broaden service options, mitigate risks to financial stability, and reduce the cost of financial services through technology.
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At the core of the strategy, three main pillars have been placed: infrastructure development, policy-regulation and governance, and fintech ecosystem development. Rastra Bank plans to develop fintech-friendly regulatory arrangements to create a level playing field among fintech service providers.
The strategy has also prioritized the development of secure and robust digital systems, along with expanding new digital financial products and services, supporting innovation, and increasing digital financial literacy.
MSMEs, rural areas, youth, women, children, and workers involved in the gig economy are identified by the strategy as target groups. Rastra Bank expects that the implementation of the strategy will lead to the development of a secure, inclusive, innovative, and interoperable digital financial system.
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