Fiscal Nepal
First Business News Portal in English from Nepal
Finance Minister wagle
KATHMANDU: Finance Minister Dr. Swarnim Waglé has reaffirmed the government’s commitment to removing Nepal from the international anti-money laundering grey list, stating that all possible measures will be undertaken to ensure the country exits enhanced monitoring status.
Speaking at a discussion on the action plan under the International Cooperation Review Group (ICRG) of the Asia/Pacific Group on Money Laundering (APG) held at the Ministry of Finance on Wednesday, Dr. Waglé said the government remains fully committed to freeing Nepal from the grey list, formally known as “Jurisdictions Under Increased Monitoring.”
Asia/Pacific Group on Money LaunderingInternational Cooperation Review Group
The meeting, coordinated by the Office of the Prime Minister and Council of Ministers, focused on Nepal’s progress in implementing reforms required under the APG and the global anti-money laundering framework.
During discussions with APG representatives, Finance Minister Dr. Waglé emphasized that the government would deploy its full institutional capacity to help Nepal exit the grey list. He said the government, under the leadership of the Prime Minister, has prioritized governance reforms while accelerating development efforts.
“The public’s primary expectation from this government is good governance,” the finance minister said, adding that citizens have started experiencing improvements in governance following the formation of the new administration.
Dr. Waglé said relevant government agencies are moving ahead with both immediate and regular measures necessary to comply with grey list requirements. He added that continuous monitoring and evaluation of progress are underway.
According to the finance minister, Nepal has shown improvements in several indicators related to grey list compliance compared to the previous review period, reflecting progress in strengthening anti-money laundering and counter-terrorist financing mechanisms.
At the meeting, APG Deputy Executive Secretary David Shannon remarked that Nepal still has considerable work remaining before it can secure removal from the grey list.
Officials from the Ministry of Finance, the Office of the Prime Minister and Council of Ministers, and Nepal Rastra Bank, among other concerned agencies, participated in the discussion.
The global anti-money laundering watchdog, the Financial Action Task Force, placed Nepal on the grey list in Falgun 2081 BS (February/March 2025) for a two-year period. Nepal has since committed to implementing a 15-point reform action plan aimed at strengthening anti-money laundering controls, financial transparency, and regulatory enforcement.
The government has maintained that improving governance, strengthening institutional oversight, and ensuring regulatory compliance remain key priorities to meet FATF benchmarks and restore international confidence in Nepal’s financial system.
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