Commodity Market Bill passed by the Parliament of Nepal
In a historic declaration, the Parliament of Nepal passed the bill related to the Commodity Market on 30th July 2017. The bill will be effective from 91 days after certification from the President of Nepal. In hindsight, the bill was submitted in the house 4 months back. The current regulator of the Nepal Stock Exchange i.e. Securities Board of Nepal (SEBON), has been given the responsibility to regulate the commodity market too. The history of the Commodity Market in Nepal dates 10 years back with the establishment of the first commodity exchange. However, words related to the regulation of the commodity market had been in priority in the budget speeches every year since 2009 (the year MEX Nepal went Live). SEBON has expedited the work related to the regulatory framework of the commodity market. In this regards, SEBON had invited the stakeholders for an interaction program on 4th August 2017 and encouraged suggestions on the regulatory framework. The news was met with positive vibes among the market practitioners and the interest from the general public has increased many folds since the historic declaration.