CDS operation in Nepal has begun

Kathmandu, April 16 –   Central Depository System (CDS) has come into operation from  Monday. The paperless system allows processing to be done in an easier and faster way. The central depository system (CDS) does  ownership transfer of share after sale  instantly. Under the new provision, stock ownership has to be first converted into Demat format.

A Demat account can be opened through Depository Participant (DP), an agent appointed by the CDSC. CDSC has named seven agents as of the present. They are Civil Capital Market, Ace Capital, Investment Management and DP Ltd, Nabil Investment Banking, NIBL Capital Markets, Laxmi Capital Market and Everest Bank.

Similarly, the companies listed on Nepse also have to open a Demat account with CDSC. Potential investors, after being okayed for a Demat account, can post the number of shares they want to buy or sell through their brokers.

The chief guest on the Programme, minister of finance- Shankar Prasad koirala has promised CDSC for any Governmenatal help and has praised the company for the transaction.

CDSC said the digital system would come into full-fledged operation only after six months.