KATHMANDU, July 11: Nepal Rastra Bank (NRB) has outlined measures in the newly released monetary policy to help the country exit the Financial Action Task Force’s (FATF) grey list.
The strategy focuses on enhancing surveillance, investigation and enforcement against suspicious financial activities. The policy also emphasizes inter-agency coordination and the implementation of the national strategy aligned with FATF’s action plan. Reforms recommended in Nepal’s third mutual evaluation report by the Asia/Pacific Group (APG) will be prioritized.
Additionally, the Financial Intelligence Unit under the central bank will be automated to improve the efficiency of information sharing and investigations.