Bangladeshi Audit Firm Howladar Yunus & Co Selected for Loan Quality Review of 10 Commercial Banks in Nepal

Nepal Rastra Bank has selected Bangladeshi audit firm Howladar Yunus & Co, Chartered Accountants, to conduct a Loan Portfolio Review (LPR) of 10 major commercial banks in Nepal. The selection was made under Clause 38(2) of the Public Procurement Act, 2063, following a technical evaluation in which the firm received the highest score.

Out of six applicants that submitted proposals in Poush 2081, only Howladar Yunus & Co qualified in the technical evaluation. Subsequently, the financial proposal was opened, and the firm agreed to carry out the review work at NPR 6,254,912.50 (Six Million Two Hundred Fifty-Four Thousand Nine Hundred Twelve Rupees and Fifty Paisa) and USD 271,670.05 (Two Hundred Seventy-One Thousand Six Hundred Seventy Dollars and Five Cents), excluding VAT.

The procurement process was delayed due to a legal challenge by a competing bidder, Mehra JKSS SSBDI, represented by Satish Subedi of S. Subedi & Associates. A writ petition was filed at the Supreme Court against Nepal Rastra Bank and the Public Procurement Monitoring Office. As a result, the central bank had temporarily halted the financial evaluation.

However, on Ashar 9 (June 23, 2025), the joint bench of Justices Dr. Manoj Kumar Sharma and Nrip Dhwaj Niraula decided not to continue the interim order, clearing the way for the bank to proceed with awarding the contract.

Following the verdict, Nepal Rastra Bank’s Assets and Service Management Department (Software Unit) published a Letter of Intent on 8 Shrawan 2082 (July 23, 2025) to formally notify the award of the consultancy contract to Howladar Yunus & Co.