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Published On: February 28, 2024 08:00 AM NPT By: Republica

'Money-laundering prevention bill in amendment process to check illicit transactions'

'Money-laundering prevention bill in amendment process to check illicit transactions'

KATHMANDU, Feb 28: Minister for Law, Justice and Parliamentary Affairs Dhanraj Gurung told lawmakers on Tuesday that a bill to amend some laws relating to the Prevention of Money Laundering and Business Environment promotion has been presented in the parliament for checking illicit transactions.

Responding to queries raised during an in-principle discussion in Tuesday’s meeting of the National Assembly’s Legislation Management Committee, he said the bill has been put forward for amendment process since illicit financial flows have direct bearing on the national economy and also taking into consideration the recommendations of development partners.

The minister further shared that other related laws are also to be amended to make the prevention of money laundering law effective.

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