A three-member team from the International Monetary Fund (IMF) provided trainings on anti money laundering to various bank officials.
The central bank invited the IMF team to train bankers to build their supervisory capacity to check money laundering and to provide tools needed to curb money laundering.
The team today also met with the central bank governor and handed a report ‘A manual on reforms of central bank’s supervisory capacity, inter agency coordination, and cooperation between the IMF and the central bank’ on curbing the flow of dirty money.
…The country has already started feeling the heat due to its inability to pass three key Bills — Mutual Legal Assistance Bill, Extradition Bill and Bill Against Organised Crime — which are related to anti-money laundering. US banks have already started asking the central bank to close its account due to ‘technical reasons’.
…There was a high possibility of Nepal being either downgraded to ‘high-risk zone’ or blacklisted (the public statement) from the current risk zone but international lobbying had saved the country then.
The global anti-money laundering watchdog has extended the time frame for one last time as it had earlier extended the time twice due to Nepal’s failure in fulfilling its commitments in preparing laws to fight the flow of dirty money.
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