Mr. Ajaya Ghimire (CEO, Vibor Bank) - Samriddhi, The Prosperity ...

After returning to Nepal, Mr. Ghimire started Vibor Investment in partnership which later broke.
Then, he established Vibor Bank and is currently the Chairperson/CEO of the bank. He
describes Vibor Bank as an institution that envisions proliferation of entrepreneurs in Nepal and
has the mission of making capital accessible to more and more entrepreneurs which might
enhance their productivity. He believes traditional banking system cannot provide enough
support to entrepreneurs and therefore he intends to do it through Vibor bank.
Mr. Ghimire believes lack of capital shouldn't be the constraint to entrepreneurs, what really
matters is the idea and persistence of the person. He concluded his experience sharing by telling
that to support the entrepreneurs of Nepal is the dream of Vibor bank.
Questions and Answers
1. Why partnership doesn’t work in Nepal?
- Because of lack of habit of writing down agreements and poor legal system makes it difficult
for partnership to work.
2. Why the venture capitalism hasn't begun in Nepal?
- There isn't enough capital in Nepalese markets for the venture capitalists to work.
- It can be hoped that there will be enough capital in future and venture capitalism will flourish
in Nepal.
3. Will the arrival of international financial institutions pose a serious threat to the local banks in
Nepal?
No, the arrival of International financial institutions in 2011 wouldn’t pose serious threat to the
survival of the local banks. Even though international financial institutions might have immense
capital at their disposal, Nepalese banks have the local knowledge which will act as a
competitive advantage to local banks.
3. What would be the strategies to promote entrepreneurship in Nepal?
- There is the need of strong enforcement of contracts, finding the right people to invest on,
strong rule of law and development of platform where young entrepreneur could come and
discuss.
4. What future do you see with the downturn of the economy?
- Fortunately our linkage with foreign financial arena is not strong enough to have a great
impact on our economy but still there is the need of being cautious.
Mr. Ghimire further highlighted the mindset of traditional banks that were unwilling to take