High-level meeting to improve Nepal's situation in anti-money laundering

KATHMANDU, DECEMBER 23: Top political and administrative leaders, along with representatives of concerned bodies, held a meeting to evaluate Nepal's efforts in preventing money laundering and to discuss plans. The meeting, chaired by Prime Minister KP Sharma Oli, took place yesterday at the Office of the Prime Minister and Council of Ministers in Singha Durbar.

The discussion focused on the evaluation conducted by the Asia Pacific Group on Money Laundering (APG). According to the evaluation, 25 countries, including Nepal, are at risk of being categorized under "Jurisdiction under Increased Monitoring" (grey list).

During the meeting, it was suggested that Nepal could avoid being included in the grey list by demonstrating strong political commitment and presenting significant improvements during the upcoming "face-to-face" meeting with the APG in January, scheduled to be held in the Philippines.

Prime Minister Oli emphasized the importance of taking the situation seriously and implementing effective measures to bring positive changes. He stressed the need for a united effort across all sectors, supported by a clear and credible political commitment. He also highlighted that the current government was established to bring stability and has been actively working to address the issue.

Nepali Congress President Sher Bahadur Deuba noted that implementing anti-money laundering measures is a challenging task requiring rigorous effort. He stressed the importance of identifying discreet financial flows, educating the public on financial transactions, and improving Nepal's financial systems.

Other attendees included Deputy Prime Ministers, ministers, senior leaders from the CPN (UML), including Senior Vice-Chairperson Ishwor Pokharel and General Secretary Shankar Pokhrel, as well as Nepali Congress Vice-President Purna Bahadur Khadka and General Secretary Gagan Kumar Thapa, among others.