The government has started preparations to remove Nepal from the Financial Action Task Force (FATF)'s grey list.

A meeting of the Anti-Money Laundering Steering Committee on Tuesday decided to finalize and implement a national action plan aimed at meeting FATF requirements.

During the meeting, Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel emphasized the need for long-term measures to ensure Nepal does not return to the grey list in the future.

Minister for Law, Justice and Parliamentary Affairs Ajay Kumar Chaurasia said Nepal could be delisted if all stakeholders work with strong political will.

Attorney General Ramesh Badal highlighted the importance of institutional good governance across state agencies. Chief Secretary Eaknarayan Aryal noted that Nepal could exit the grey list by effectively implementing the action plan with a focus on technology.

Nepal Rastra Bank’s Acting Governor Neelam Dhungana Timsina stressed the need for early and sustained action, rather than last-minute efforts.

Nepal was placed on the FATF grey list in February this year for non compliance with anti-money laundering rules. -- RSS