Only 671 candidates for the House of Representatives (HoR) election have opened bank accounts so far. According to Narayan Prasad Bhattarai, spokesperson for the Election Commission, there are a total of 3,406 candidates nationwide, meaning only about 20% have complied with the requirement to date.
The Election Commission has mandated that political parties and candidates must deposit and spend all funds required for election campaigning exclusively through bank accounts. To support this, Nepal Rastra Bank has already issued a circular to banks and financial institutions to facilitate the account-opening process for candidates.
The process of opening accounts for parties and candidates is currently underway across the country. Spokesperson Bhattarai stated that the Commission will collect information from financial institutions regarding any difficulties candidates face during the process and will provide necessary facilitation.
The Commission held a discussion on Monday to clarify the purpose of these accounts, management procedures, and the role of banks in facilitating them.
Financial institutions have expressed their commitment to fully support the bank account system, which aims to make election expenses transparent and organized.
Bhattarai noted that banks have been providing the level of cooperation expected by the Commission to maintain financial governance.
The Commission has also requested banks and financial institutions to include voter education materials on their digital displays, including mobile apps and ATM screens, to make the campaign more effective. According to the spokesperson, financial institutions have responded positively to this request.
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