Nepal Rastra Bank  introduces $3,000 prepaid card to boost the ICT sector and digital ecosystem

Kathmandu– In a landmark move for Nepal’s digital economy, the Nepal Rastra Bank (NRB) has issued transformative directives aimed at easing foreign currency restrictions for the country’s information and communication technology (ICT) sector. The centerpiece of this reform is the introduction of a $3,000 IT prepaid card, expected to resolve long-standing payment challenges for Nepali startups, freelancers, and established IT companies.

Timely reform for digital Nepal

For years, Nepal’s ICT industry faced constraints due to restrictive foreign currency policies. The previous $500 standard prepaid card limit was insufficient for modern developers and businesses. Expenses for cloud hosting services like AWS and Azure or enterprise software such as Adobe and GitHub often exceeded this cap, limiting growth opportunities.

With the newly issued NRB circular on Sunday, these barriers are set to be lifted, providing much-needed flexibility for ICT professionals and encouraging investment in Nepal’s digital ecosystem. Industry experts believe this reform could be a game changer for the nation’s IT sector, opening doors for enhanced global competitiveness and smoother online transactions.