In response to the MP's question, the finance minister claimed that the effective implementation of the AML Act will soon free Nepal from the gray list.
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Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel has said that the government is continuing its organized and intensive efforts to get Nepal out of the gray list before the scheduled time.
Answering the question put by the MP in the House of Representatives meeting, Finance Minister Paudel claimed that as a result of Nepal's organized and intensive efforts, Nepal will get out of the gray list before the scheduled time.
He said that the law and action plan related to wealth laundering are not kept in a drawer but are prepared for implementation and meaningful results. He informed that 19 different Acts have been amended by the Act, 2080 to amend some Acts related to Prevention of Money Laundering and Promotion of Business Environment in order to remove them from the
gray list.
Similarly, he informed that the Money Laundering (Money Laundering) Prevention Regulations, 2081 have been issued and implemented, and the strategy and action plan (2081/82 to 2085/86) related to prevention of financial investment in money laundering and terrorist activities is being implemented.
In order to bring the country out of the gray list as soon as possible and to ensure effective implementation so that it does not fall into such a list in the future, he said, the board of directors has approved and implemented the "Elaboration of Quick Corrective Actions to Get Out of the Gray List, 2082". Along with that, he emphasized that the re-rating received from the Asia Pacific Group was reported in the reporting format and the report was arranged through the Financial Intelligence Unit.
According to him, the directive, 2082 issued to those dealing in precious metals or commodities (indicator institutions) regarding the prevention of financial investment in money laundering and terrorist activities, is being implemented.
Similarly, he said, the directive, 2082, which was issued to the indicator organization related to casino businessmen and real estate transactions, is also being implemented.
In the end, Finance Minister Paudel also informed the House that in addition to the Steering Committee and the Coordination Committee established by the Money Laundering Prevention Law, 4 Implementation Coordination Mechanisms have been formed for the whole period of Strategy and Action Plan (2081-2085/86).
