Kathmandu-Nepal Rastra Bank has amended the Unified Directive on Foreign Exchange Management to prohibit cash payments of casino winnings exceeding 5,000 US dollars.

Under the revised rule, winnings above 5,000 US dollars must be deposited directly into the player’s bank account. Previously, cash payments of up to 5,000 dollars were allowed.

The circular issued by the central bank states that amounts exceeding 5,000 US dollars must be deposited into the player’s bank account. If a player participates using Nepali rupees, the winnings must be paid strictly in Nepali rupees.

However, as per Regulation 17 of the Foreign Exchange Transaction Licensing and Inspection Regulations, 2020, cash payments of up to 5,000 US dollars can still be made if Nepali rupees are deposited in cash based on proof of foreign currency exchange.

For amounts exceeding 5,000 dollars, payments must be made in foreign currency through a bank account. The directive also states that when accepting Nepali rupees for casino gaming, all relevant regulations must be strictly followed.