The Nepal Insurance Regulatory Authority issued a circular to all licensed life, non-life, micro life, micro non-life insurers and reinsurance companies requiring that remuneration for employees and agents be paid only through banks or financial institutions into the recipient’s bank account, rather than in cash. The direction covers salaries, allowances, commissions, incentives and any other form of remuneration. The authority warned that legal action will be taken for payments made contrary to this arrangement.
Nepal Insurance Regulatory Authority 2025-09-08
Nepal Insurance Regulatory Authority orders insurers and reinsurers to pay employee and agent remuneration through bank accounts
The Nepal Insurance Regulatory Authority mandated that all licensed insurers and reinsurance companies pay employee and agent remuneration exclusively through banks or financial institutions. This directive applies to salaries, allowances, commissions, and incentives. Legal action will be pursued for non-compliance.