Kathmandu – Around the world, women lead some of the largest financial institutions, including the International Monetary Fund (IMF), World Bank, International Finance Corporation (IFC), and the Asian Development Bank (ADB). Women occupy top leadership positions within these institutions, setting examples on the global stage.

In Nepal, however, women’s representation at the upper echelons of finance remains nearly non-existent. When women do rise in Nepal’s financial sector, they often only reach the “second-in-command” roles, such as deputy positions. While women have held high offices in Nepal’s judiciary and executive branches—such as Bidhya Devi Bhandari serving two terms as president and Sushila Karki as Chief Justice—similar progress is rarely seen in the financial sector.

In the private sector, a few women have broken through to become Chief Executive Officers, such as Anupama Khulanjeli and Rabina Desraj Joshi, demonstrating women’s capacity to lead financial institutions. Moreover, Dr. Neelam Dhungana became Nepal’s first woman Deputy Governor of the Nepal Rastra Bank in 2077 B.S., a historic achievement.

When Will We See a ‘First Woman’ in Nepal’s Financial Leadership?

Despite the accomplishments, women in Nepal’s finance sector are frequently limited to deputy roles, a trend that persists in politics and other fields as well. Dr. Dhungana herself had initially aspired to be the Governor, and several other qualified women share this goal. However, it remains unclear when Nepal will appoint its first female Governor.

Globally, women occupy top positions in several leading financial institutions. For instance, in the IMF’s 32-member executive team, 11 are women, with three holding top positions, including Managing Director Kristalina Georgieva and Senior Deputy Managing Director Gita Gopinath.

Women at the Helm of the World Bank

The World Bank’s senior leadership team includes Anna Bjerde as Managing Director of Operations and Anshula Kant as Chief Financial Officer, further proving the potential of women in high-level finance roles. Additionally, Janine H. Ferretti currently leads the Multilateral Investment Guarantee Agency (MIGA).

Three Women VPs at IFC

At the IFC, women also hold leadership roles, with three female Vice Presidents, including Senior Vice President Elena Borragán Skayea. This proves that women’s capabilities in leadership are recognized internationally.

Two Female VPs at ADB

At the ADB, Fatima Yasmin and Roberta Casali serve as Vice Presidents, representing women at the institution’s top management level.

Despite these global successes, Nepal’s government and financial institutions are yet to recognize the full leadership potential of women, highlighting the need for Nepal to follow the global trend and embrace female leadership at the highest levels in finance.