Nepali workers in Qatar attracted to share investment

Qatar.

Qatari workers are excited to invest in the stock market. With the opening of bank accounts, demat accounts and my shares from abroad, workers in Qatar are excited to invest in the stock market.

Especially after the IPO of all the applicants to the Nepal Infrastructure Development Bank (NEFRA), which has issued large capital shares, the interest in share investment has also increased among Nepalis working in Qatar.

After agreeing to fill the share application form along with the bank account from here, the workers of Qatar have opened the account through the representatives of Nepal Investment, Siddhartha and other banks. Workers who used to open a bank account only after having to open a bank account to work in foreign employment have now started opening a demat account to invest in shares.

Some employees who recently opened a demat account through Siddhartha Bank and invested in the IPO of Green Life Hydropower Limited, have become 10/10 shareholders.

Prakash Phuyal, a representative of Nepal Investment Bank in Qatar, said that the workers in Qatar have recently started opening bank accounts and demat accounts to invest in the stock market. He said that more than six new accounts have been opened every day to invest in the stock market recently.

After the bank opened a free account, the number of people coming to open an account has started to increase. After opening the bank account, it would take one to two weeks to open the demat, so the bank representatives had requested to come later. It was requested to come again to get the demat number and CRN number.

Similarly, Nepalis come to open bank accounts and demats to invest in shares through Siddhartha Bank, said Durga Rijal, a representative of Siddhartha Bank at Najma-based Gulf Exchange. Nepal Investment Bank has opened a free bank account, while Demat and My Shares will be free of charge for one year. Meanwhile, a representative of Siddhartha Bank has taken 50 Qatari riyals (Nepali average Rs. 1575) for opening a bank account.

Similarly, Jagaruk Yuva Samaj Nepal Qatar plans to impart basic information related to share market, demat account and bank account opening process to its members, said Yadav Prasad Chaulagai, vice president of the society. He said that he would help in completing the banking process through the bank's representative in the program which is being conducted by maintaining social distance as per the rules of Qatar.

Currently, about 351,000 Nepali workers are working in Qatar.