Nepal begins preparations to exit FATF grey list

 

KATHMANDU, APRIL 8: The government has initiated preparations to remove Nepal from the Financial Action Task Force (FATF)'s grey list. A meeting of the Anti-Money Laundering Steering Committee, held on Tuesday, decided to finalize and implement a comprehensive action plan aimed at ensuring Nepal’s removal from the list.

During the meeting, Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel emphasized the need for a long-term strategy to prevent Nepal from being placed on the grey list again in the future.

Minister for Law, Justice and Parliamentary Affairs, Ajay Kumar Chaurasia, expressed confidence that Nepal can be delisted if there is strong political will and commitment to the necessary reforms.

Attorney General Ramesh Badal underscored the importance of institutional good governance across all state bodies as a critical element in meeting FATF requirements.

Chief Secretary Eaknarayan Aryal noted that adherence to the action plan, with a focus on technological integration, will be key to Nepal’s success in exiting the grey list.

Nepal Rastra Bank Acting Governor Neelam Dhungana Timsina stressed the importance of early and consistent implementation of the action plan, cautioning against last-minute efforts.

Nepal was placed on the FATF grey list in February earlier this year, prompting increased scrutiny and the need for urgent reforms in areas related to anti-money laundering and countering the financing of terrorism.