Kathmandu – Sanjib Subba, founding president of the Fintech Alliance Nepal, stated that fintech companies in Nepal are committed to their customers. Speaking at the Global Fintech Festival, a three-day event held in Mumbai, India, Subba emphasized that Nepali fintech companies are world-class and reliable.

“Fintech companies in Nepal are reliable,” Subba remarked at Finfest, which ran from August 28 to 30. He further noted that Nepal exports billions of dollars’ worth of information technology annually, and the market value of Nepali IT companies stands at approximately 1.5 billion US dollars.

During the event, Subba shared an anecdote about a digital payment he made on a journey from Kathmandu to Upper Mustang a few months ago. “A few months ago, I traveled to Upper Mustang, reaching an altitude of 4,000 meters from Kathmandu,” he said.

He also highlighted the support of Nepal Rastra Bank in promoting digital payments and establishing necessary regulations. Subba discussed the progress made by fintech companies in Nepal, including Payment Service Operators (PSOs) and Payment Service Providers (PSPs), stressing that the central bank remains engaged in overseeing the sector. Additionally, he announced that the Central Bank of Nepal plans to introduce a Central Bank Digital Currency (CBDC) by 2026.

“Very few countries in the world are working on CBDC,” Subba stated. “Nepal’s Central Bank is among the top three.” He further emphasized that the government of Nepal is drafting a digital payment strategy, noting that creating a dedicated digital payment framework is a significant achievement.