Kathmandu— The Banking, Finance and Insurance Institute of Nepal Limited (BFIN) hosted its 8th Anniversary International Conference in Kathmandu on August 14, bringing together over 200 delegates to discuss the future of financial systems. The conference, themed “Future-Ready Financial Systems: Leadership, Sustainability and Transformation Amid Global Uncertainty,” addressed key challenges facing Nepal’s banking and financial sector, including infrastructure development, digital transformation, and climate risk. Discussions centered on building more resilient institutions in a rapidly changing global landscape, with participation from national and international experts.

National Planning Commission Highlights Development Needs

Vice-Chair of the National Planning Commission, Dr Gunakar Bhatta, addressed the conference, emphasizing Nepal’s infrastructure development needs and the crucial role of financing in achieving sustainable economic growth. He noted that both domestic and international migration patterns present significant challenges for development planning.

Dr. Bhatta also acknowledged positive developments within Nepal while drawing attention to ongoing obstacles hindering infrastructure development, investment, and broader economic progress.

Central Bank Official Emphasizes Key Themes

Dr. Ravindra Prasad Pandey, Member of the Board of Directors of Nepal Rastra Bank, congratulated BFIN on assembling a diverse group of experts and participants. He underscored the relevance of the conference’s core themes – financial stability in a changing global environment, digital transformation, and sustainability – to Nepal's banking and financial sector.

Dr. Pandey emphasized the interconnectedness of these themes and their increasing importance for the country’s financial institutions.

Discussions Focus on Global Uncertainty and Digital Transformation

The conference featured three high-level discussions. The first examined global macroeconomic uncertainty, geopolitical shifts, and financial stability, focusing on resilience and preparedness in navigating an unpredictable world. The second session explored digital transformation, innovation, and the future of financial systems, including digital payments, cybersecurity, and artificial intelligence.

The third discussion centered on sustainability, climate risk, and sustainable finance, with speakers addressing ESG integration and responsible financing practices.

BFIN Expands Regional Partnerships

During the event, BFIN released Volume VII of its journal and formalized new partnerships through Memoranda of Understanding (MOUs) with South Asian University in India and The Capacity-Building Alliance of Sustainable Investment (CASI) in China. These agreements aim to strengthen regional collaboration and knowledge sharing.

The conference concluded as a platform for dialogue on the challenges and opportunities facing Nepal’s financial sector, aiming to foster stronger, more resilient institutions within the country and throughout the region.

(With inputs from RN)

Originally published on abcnews.com.np.