Former Finance Minister Ram Sharan Mahat has been named the "Best finance minister" globally by UK's reputed The Banker Magazine in their January 2016 edition. He also won the “Best finance minister" award for Asia-Pacific region.

Ram Sharan Mahat, #Nepal's former #FinMin, is our global and Asia-Pacific finance minister of the year https://t.co/LBDMY34vD2 @ramsmahat

— The Banker (@TheBanker) January 4, 2016

Mahat was selected for the award in recognition of his post-earthquake work in Nepal in 2015. The selection was made following a discussion and a survey of views among bankers and economists from around the world, the magazine said in a letter.

After the April 25 earthquake, the-then Finance Minister Mahat had played an important role in making positive amendments in the existing banking laws and in providing loans to youth at concessional rates.

During his tenure, five rural development banks were merged into one, while improvements were made to the budget system. Mahat is also credited for facilitating the reconstruction and rehabilitation works in the aftermath of the earthquake—particularly holding a successful donors’ conference for reconstruction, curbing inflation, and effective utilisation of foreign aid.

The Banker has been the premier monthly magazine on global finance since 1926, and is owned by the world-renowned Financial Times group.

The magazine is planning to present the award to Mahat, in person, in Nepal sometime this year.