After the foreign management team of ICC withdrew from the management of Nepal Bank Limited (NBL), the central bank has started consultations regarding the bank’s management.

Pointing at the pressures from the employees’ union and lack of cooperation by the Nepal Rastra Bank (NRB), the foreign management team had unilaterally decided to cancel its management contract. They were also dissatisfied with the decision of the NRB to extend their contract by only six months – as against their demand for 18 months extension.

J. Craig McAllister, the chief executive of the team, had written a letter to the NRB, Finance Ministry and donor World Bank informing about the decision.

Subsequently, the board of directors of the NBL, on Saturday, has appointed a three-member team to look after the management. The team is headed by Mahesh Dhakal and includes Keshab Raj Lamichhane and Keshab Prasad Pathik.

Meanwhile, Finance Minister Dr. Ram Sharan Mahat has said that if the ICC management team withdraws, then the government will hand over the management to Nepali team. “In the present context in the country, we cannot extend the management tenure by more than six months. If the foreign team is not willing to accept this offer, we will have to look for alternatives,” Dr. Mahat said.