Fcy Loan (Usd Tr)
Last Updated Date: May 16, 2022
Sunrise bank limited has provided its customers with up-to-date banking services and facilities under the motto Rising to serve. The bank was founded by renowned pioneers and its team is completely committed to creating a dedicated institution to provide all banking needs and services. The aim of this bank is to provide all kinds of individuals in every area, size of transaction and aspiration with the tailor banking service. It has approved the capital with regard to the capital structure of the bank: 5,000 million, Promoter Shares of NRs (51% of the paid-up capital), 1,140.70 million respectively. For public stock, which is 49% of the paid-up capital, 1,095.95 million. This bank is not only open for profit motive But also with the aim to be a friend who will take care of people’s financial affairs and support them. This bank is always in operation to ensure the customer's success.
A foreign currency loan means that you borrow money in a foreign currency. A loan denominated in a currency other than that of the borrower's home country, for which repayment terms are prearranged through the use of a forward currency contract. Foreign currency loan refers to the loan granted by the bank through the self-raising foreign currency fund, including five types of foreign currency, US dollar (USD), Euro (EUR), Japanese yen (JPY), British pound (GBP), and Australian dollar (AUD). Nepal Rastra Bank(NRB) under Section 12 of the Foreign Exchange (Regulation) Act 1962 (2019) issued foreign currency loan to respective categories banks. Under the NRB Circulars the Central Bank has imposed various terms and conditions on foreign loans. The NRB Circulars require the borrower to first attempt to avail of the loan from commercial banks and financial institutions in Nepal. Only in the event the borrower fails to obtain the amount of funds it requires at a competitive rate of interest locally, the borrower can obtain loan from foreign lenders. The key provisions of the NRB Circulars:
A Nepalese citizen can obtain foreign loan for business purpose from his/her relatives residing outside Nepal, non-resident Nepalese or foreign entities, with the approval of the Central Bank.
1. Foreign Banks and Financial Institutions
In the event the Nepalese borrower cannot obtain loan locally, the borrower is first required to attempt to avail of foreign loan from foreign banks and financial institutions.
2. Authorized Finance Companies / Financial Institutions:
Only in the event it becomes difficult to obtain foreign loan from foreign banks and financial institutions, the borrower can obtain loan from any finance company or financial institution which has been authorized to provide loan as per the approval obtained by such finance company or financial institution from their respective government, central bank or any other regulatory authority.
3. Foreign Companies / Entities:
In the event the borrower is unable to obtain loan from the entities the borrower can obtain foreign loan from a foreign company or other entities. In respect of loan from foreign companies / entities-
(i) the financial details of the lending entity certified by its auditor (or audited accounts), (ii) source of funds for the loan, and (iii) schedule for the transfer of loan amount by the lender, an
1. It covers a comprehensive range of usage with main use of meeting customer's demands for foreign currency financing, including enterprises' demands for working capital and for fixed asset investment.
2. According to customer request, its lending interest rate can apply either floating rate or fixed rate. If required, the rate can be swapped from floating rate to fixed rate.
3. Compared with foreign government loans and buyer's credit of foreign banks, our bank's foreign currency loan can be more widely used and help customers purchase equipment and materials from foreign countries.
1. Establish credit relations with the borrower. For enterprise customers of foreign currency loan, sales account manager should conduct admittance criteria examination of the borrower in accordance with our bank's credit rating and relevant regulations on loan.
2. Investigation prior to the loan grant. Sales account manager should conduct comprehensive investigation to loan through field research and other channels based on the status of borrower, guarantor, mortgagor (pledgor) and the mortgage (pledge), specially focusing on such aspects as legality, compliance, safety and profitability.
3. Examination and approval of the loan: loan usage and management.
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