October 14: Nepal Rastra Bank (NRB) has directed all stakeholders not to provide foreign exchange facility to individual or organisation for the import of banned products. The products banned by the government include black pepper, beetle nuts, peas and dates as well as luxurious vehicles that cost more than US$ 50,000.

Concluding that the transaction of the products banned by the government is illegal, the central bank issued a circular to all foreign exchange outlets as well as banks and financial institutions (BFIs) not to get involved in it.

The central bank issued such circular by amending the Unified Directive 2076.

The Foreign Exchange Management Department of NRB however has said that BFIs and other concerned institutions can provide foreign exchange facility to foreign diplomatic missions in Nepal and other international organisations working in the country for the purchase of luxurious vehicles.