Himal Press 
KATHMANDU: Nepal Rastra Bank (NRB) Governor Dr Biswo Nath Poudel has said that although Nepal’s inclusion on the Financial Action Task Force’s (FATF) grey list is challenging, it should be viewed as an opportunity to improve the country’s anti-money laundering mechanisms.
Speaking at an International Conference on Anti-Money Laundering (AML) and Combating the Financing of Terrorism, Poudel said Nepal has realized that it should strengthen its internal mechanisms and make them more transparent and in line with global standards.
“Since the use of advanced technology in financial crimes is increasing, we must equip supervisory mechanisms with more resources to control such activities,” he said. “For this, we cannot wait for problems to arise tomorrow or respond only after incidents occur; we must prepare in advance.”
Poudel also said everyone must remain vigilant, as the practice of exploiting legal loopholes to commit financial irregularities and crimes is on the rise. “Such activities force the country to spend funds—otherwise meant for health and education—on prevention efforts. This will deepen social and class disparities,” he added.
The conference, which is organized by the central bank’s Money Laundering Prevention and Supervision Department, will continue until Thursday.
Central bank officials from Nepal, India, Sri Lanka, Bangladesh, and Mongolia are attending the event.
