KATHMANDU, July 23: Nepal Rastra Bank (NRB) has selected Bangladeshi audit firm Howladar Yunus & Co. to assess the loan quality of 10 large commercial banks in Nepal.
The central bank shortlisted only this firm for its technical qualifications before opening financial proposals. The contract was signed for a total of Rs 6.25 million.
The selection was made under Sub-Section 2 of Section 38 of the Public Procurement Act, 2063.
Out of six companies that had applied, Howladar Yunus & Co. was the only one selected through the technical evaluation.
However, the process had been stalled after Satish Subedi, director of S. Subedi & Associates, representing rival consortium Mehra JKSS SSBDI, filed a writ petition in the Supreme Court against NRB and the Public Procurement Monitoring Office.
Due to the legal challenge, NRB had paused the financial proposal phase. On June 23, a joint bench of Justices Dr Manoj Kumar Sharma and Nripadhwoj Niraula decided not to continue the interim order, allowing NRB to move ahead with the process.