Chief Executive Officer of Investment Board of Nepal Maha Prasad Adhikari has been appointed as the new Governor of Nepal Rastra Bank. The position had remained vacant since outgoing Governor Dr Chiranjibi Nepal ended his term 19 days ago.

Adhikari was appointed the new governor of the central bank for a five-year term by the meeting today of the Council of Ministers. He comes with more than three decades of working experience with the NRB in the past in various positions and departments.

He was one of the three, along with current NRB Deputy Governor Chintamani Shiwakoti and outgoing Finance Secretary Rajan Khanal, recommended for the post. The government had appointed a committee led by Finance Minister Dr Yubaraj Khatiwada to make the recommendations. It may be noted that Adhikari had been in the recommended list of three probables five years ago too.

Born in Khotang in eastern Nepal, Adhikari holds a degree in Chartered Accountancy from India. He will also be the first person to become the governor of NRB from the CA background. He was appointed the CEO of IBN four years ago.