Kathmandu. Global IME Bank has been revealed to have encroached upon government land. Global IME Bank was also included in the list of 17 organizations asked to vacate the land within 35 days by Tribhuvan University.
Global IME Bank has been criticized for tarnishing the name of the Nepali banking sector.
The Nepali banking sector has been embroiled in controversy after Tribhuvan University (TU) directed 17 organisations to vacate the land within 35 days.TAG_OPEN_p_18
Global IME Bank, one of the country’s largest commercial banks, has also been included in the list.TAG_OPEN_p_17
According to university sources, various organizations have been using TU’s land for years.TAG_OPEN_p_16 However, most of them have not completed the legal process or continue to use it after the contract period has expired.
It is against this background that the university administration has formally sent a letter with a 35 TAG_OPEN_p_15-day ultimatum.
The name of a banking institution that should normally operate under high regulation and transparency has been linked in the encroachment case, sending a negative message to the general public. Questions have been raised on ‘corporate ethics’ and corporate responsibility after Global IME Bank was included in the list of reputed banks.
