Nepal’s top political and administrative leaders discussed efforts to prevent the country from being placed on the Asia Pacific Group’s (APG) grey list, formally known as "Jurisdiction under Increased Monitoring." The leaders at a recent meeting stressed the importance of presenting Nepal's strong political commitment and significant improvements in anti-money laundering (AML) measures at the APG's upcoming face-to-face meeting in January in the Philippines.
The high-level meeting, held at the Office of the Prime Minister and Council of Ministers in Singha Durbar on Sunday, reviewed the APG’s evaluation of Nepal's anti-money laundering situation, according to the state-owned national news agency RSS. The evaluation placed Nepal among 25 countries at risk of being listed under increased monitoring, which could have severe repercussions for the nation’s global financial credibility and economic stability.
Prime Minister KP Sharma Oli, who presided over the meeting, emphasized the urgent need for coordinated and effective actions by all stakeholders to bring tangible improvements to Nepal’s anti-money laundering framework. He called for the international forum to be presented with credible evidence of Nepal's political will and the government’s ongoing efforts to enhance financial governance and transparency.
Nepali Congress President Sher Bahadur Deuba highlighted the challenges of implementing anti-money laundering policies, noting the need for rigorous monitoring of financial flows and educating the public on proper financial practices. He underscored the importance of addressing vulnerabilities in Nepal's financial system to avoid the grey list designation.
The meeting was attended by deputy prime ministers, ministers, senior leaders from major political parties, and other high-ranking officials, including CPN (UML) Senior Vice-Chairperson Ishwor Pokharel, General-Secretary Shankar Pokhrel, NC Vice-President Purna Bahadur Khadka, and General-Secretary Gagan Kumar Thapa.
