Fiscal Nepal
First Business News Portal in English from Nepal
Governor Paudel adn APG officials nrb
KATHMANDU — Nepal has come under renewed pressure to accelerate reforms required for removal from the Financial Action Task Force (FATF) grey list, as a high-level delegation from the Asia/Pacific Group on Money Laundering (APG) held discussions with Nepal Rastra Bank Governor Prof. Dr. Biswo Nath Paudel on Monday.
The visiting APG delegation, led by Deputy Executive Secretary David Shannon, met Governor Paudel in Kathmandu to review Nepal’s progress after its inclusion in the FATF “grey list” for enhanced monitoring. The discussions focused on the country’s current compliance status and the strategic roadmap required to meet international anti–money laundering and counter–terrorism financing (AML/CFT) standards.
According to officials present, the meeting assessed key reform areas including risk-based supervision of the banking sector, strengthening legal and policy frameworks, and improving transparency mechanisms within financial institutions. The dialogue also covered cooperation between national and international agencies, reporting requirements under the International Cooperation Review Group (ICRG) framework, and the role of the private sector in compliance enforcement.
A major part of the discussion centered on institutional capacity building and the possibility of technical assistance from international financial bodies to support Nepal’s exit from the grey list. Governor Paudel reiterated that Nepal Rastra Bank remains fully committed to implementing recommendations issued by global monitoring agencies on AML/CFT compliance.
Officials confirmed that this is the first APG-level visit to Nepal after the country was placed on the FATF grey list, marking a significant step in ongoing monitoring and evaluation of Nepal’s financial governance framework.
The meeting was also attended by APG Policy Officer Kia Sassal, World Bank representatives, executive directors from relevant departments of Nepal Rastra Bank, a joint secretary from the Office of the Prime Minister and Council of Ministers, and the head of the Financial Information Unit.
The engagement underscores increasing international scrutiny as Nepal works to demonstrate measurable progress in combating money laundering risks, improving regulatory enforcement, and strengthening financial system integrity under FATF compliance obligations.
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