KATHMANDU: After it was revealed that Chief Executive Officer of KIST Bank Limited, Kamal Prasad Gyawali was involved in business loan scam from Siddharth Bank, he resigned from the post on Saturday.
He resigned from the post after police arrested his wife on charge of banking fraud and fingers pointed at him also. A meeting of the Bank’s board of directors accepted Gyawali’s resignation on Saturday and appointed Bal Narsimha Gharti its acting CEO.
Gyawali’s wife Gauri Khanal Gyawali was arrested on Wednesday for her involvement in a multi-million rupee scam on business loans from the Siddhartha Development Bank. It was reported that Gyawali took the loan from Siddharth Development Bank after depositing collateral of low quality. It was revealed that they deposited the collateral by showing high evaluation.
According to the KIST Bank, Gyawali had tendered resignation citing moral grounds, and to cooperate in the investigation process and prevent the bank from earning an ill-reputation following the controversy regarding his wife. There have been many irregularities in the Banking sector from the promoters and Chief Executive Officer misusing their power.
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