17 February, Kathmandu. MP Madhav Sapkota of the ruling party CPN-Maoist Center has said that the assets of those whose sources have not been disclosed should be nationalised. Pushpa Kamal Dahal Prachanda, the chairman of the Maoist Centre, is the prime minister. The Prime Minister’s Office and the Council of Ministers have registered a bill … Read more
12 February, Kathmandu. The Nepali Congress is going to consult subject experts on the bill to amend the Money Laundering Act. Congress has organized a discussion program with experts in the office of parliamentary party Sinha Darbar from 11 am today. Resham Regmi, member of the Supreme Bar Association, Prem Prasad Bhattarai, Director General, Department … Read more
22 January, Kathmandu. In order to discourage the practice of acquiring illegal property, a bill to amend 18 different laws will be presented before the Council of Ministers on Monday. The Law Ministry on Sunday approved the draft bill and registered it with the Prime Minister’s and Council of Ministers’ Office. According to the Prime … Read more
22 January, Kathmandu. The government has decided to fast-track the laws related to money laundering. In the meeting of the National Review Council on Asset Laundering, it has been decided that the bill to amend certain laws related to money laundering will be taken forward on a fast track. A bill to amend certain laws … Read more
17 January, Kathmandu. The bill to amend some laws related to money laundering is going to move fast. In the meeting of the National Review Council on Money Laundering held in the Ministry of Finance on Tuesday, it was decided to fast track the bill for amendment of some laws related to prevention of money … Read more
19 November, Kathmandu. Nepal Rastra Bank has directed banks and financial institutions to identify and assess institutional risk related to Money Laundering and Prevention of Financial Investments in Terrorist Activities (AML/CFT) and submit risk reports. The National Bank has given this instruction to the banks adopting a strict policy regarding preventing money laundering and financial … Read more
27 October, Kathmandu. The government has sent an ordinance to the President’s Office to amend certain Nepalese laws related to money laundering. The ordinance, decided by the government last week and sent by the Council of Ministers, was registered in the President’s office. A team of international observers is visiting the site since 19 November … Read more
August 21, Kathmandu. An international team is coming to Nepal from 26 to 29 October. The main task of the team will be to assess how safe Nepal is to keep ‘black money’ safe. If he reports that Nepal is a safe country to hide money earned from illegal earnings and crime, it will be … Read more
August 20, Kathmandu. Loans given by banks to commercial real estate transactions grew by over 24 per cent in the last fiscal despite shrinking investible resources. Last year, Nepal Rastra Bank decided to increase the risk burden of such loans to discourage real estate loans related to land plotting. Effective June 2079, the risk weight … Read more
August 15, Kathmandu. Nepal is at increased risk of being blacklisted in money laundering due to the agency’s weakness to bring undeclared assets under legal purview and monitor such incidents. The Financial Action Task Force (FATF) and its regional organization, the Asia Pacific Group (APG), which monitors countries around the world on money laundering, have … Read more