Former central bank executive Dr. Gopal Bhatt appointed SEBON chairman

The government has appointed former Nepal Rastra Bank Executive Director Dr. Gopal Bhatt as the new Chairman of the Securities Board of Nepal (SEBON), the country’s capital market regulator, which had been in vacuum since the last two months. 

The decision was endorsed by the Cabinet on Friday following recommendations from a selection committee headed by National Planning Commission member Dr. Sanjay Acharya. The committee had shortlisted three candidates for the position, including former central bank executive Mukunda Kumar Kshatri and SEBON Executive Director Binay Dev Acharya.

Dr. Bhatt, spent three decades at Nepal Rastra Bank before retiring as Executive Director. He possesses expertise in financial regulation, banking supervision, monetary policy, and capital market development. 

The newly appointed chairman will complete the remaining two-and-a-half years of the term left vacant after the resignation of former SEBON chief Santosh Narayan Shrestha earlier this year. 

Dr. Bhatt assumes leadership of SEBON at a critical time for Nepal’s capital market. Investor participation has grown rapidly in recent years, increasing pressure on the regulator to strengthen oversight, enhance market transparency, and introduce new investment instruments.

Market experts believe his background in finance and regulation could help improve SEBON’s institutional capacity and reinforce investor confidence. The regulator has frequently faced criticism for governance challenges and regulatory weaknesses, making reforms a key expectation under the new leadership.

As the watchdog of Nepal’s securities and commodity markets, SEBON is supposed to play a central role in ensuring market integrity and protecting investors. Dr. Bhatt is expected to focus on strengthening regulatory effectiveness and supporting the long-term development of Nepal’s capital market ecosystem.