Parliament Passes Anti-Money Laundering Bill for Review
Summary
Nepal's Parliament has passed the Prevention of Money Laundering (Third Amendment) Bill 2083 to help remove Nepal from the international 'Grey List' for money laundering within two years, with a focus on strict implementation and good governance.
Key Points
- Nepal's House of Representatives passed the Prevention of Money Laundering (Third Amendment) Bill 2083 as presented by Finance Minister Dr. Swarnim Wagle.
- Finance Minister Dr. Wagle committed to removing Nepal from the international 'Grey List' for money laundering within the next one and a half to two years.
- Nepal currently faces international scrutiny due to being on the EU's Aviation Safety List and the financial 'Grey List'; the government prioritizes exiting both lists.
- The government emphasized strict implementation of anti-money laundering laws and assured that the act will not be used for political vendetta without proof of predicate offenses.
