Standard Chartered Bank (SCB) in collaboration with regulators and leading financial institutions, successfully concluded their Regional Correspondent Banking Academy (CBA), the very first initiative aimed at strengthening financial networks, enhancing compliance standards, and promoting best global practices in international banking across the region.

The two-day long academy, held in Kathmandu on April 24 and 25 was inaugurated by Phanindra Gautam, Secretary, Office of the Prime Minister and Council of Ministers, Coordinator – AML Coordination Committee, Nepal.

Gautam emphasized the need of holding such an event in Nepal and appreciated Standard Chartered Bank’s effort for sourcing subject matter experts from the region. He stressed on the need for broader collaboration between the government and financial sector in combating financial crime.

The two-day event brought together over 130 participants from ASEAN and South Asia representing 15 different nations, the bank said in a statement. Attendees included representatives from Nepal Rastra Bank, regulatory agencies, and colleagues from banking fraternity across ASEAN and South Asia countries.

“Through a series of expert-led workshops, panel discussions and case studies, the Academy provided deep insights into the evolving landscape of correspondent banking and digital capabilities. Topics included Risk Management, Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) protocols, Enforcement Actions, cross-border transaction challenges and innovation in financial messaging systems & FX solutions,” read the statement.

Gorakh Rana CEO & Head of Coverage, Nepal, remarked that the purpose of CBA is to renew/refresh the knowledge on AML, PF, sanctions with the purpose to safeguard the financial system. 

Chany Xiong, Executive Director, Cash Products Management, SCB; Chris Fleming, Executive Director, Head of Client & Third-Party Intelligence, SCB; Serhane Victor, Head, Sanctions Compliance, ASEAN and South Asia, SCB;   Jayesh Kadam, Director, FCC ACT Head and FCC Risk Specialist, SCB; Suchit Parikh Head of TBFX Sales, ASA, SCB; Piyush B Chaturvedi, Head of FI Sales, India, Nepal & Bhutan, SCB; and Netra Subedi, Head of Financial Crime Compliance, SCB were the speakers in the two-day session.

The event marked a major milestone in Standard Chartered Bank’s ongoing mission to foster efficiency, transparency, inclusion, and resilience in financial services, read the statement.