NBI and CIB in a Pact

December 23: National Banking Institute (NBI) and Central Investigation Bureau (CIB) of Nepal police has signed a memorandum of association (MoU) to build investigative capacity of police officers particularly related to financial crimes.

Under the agreement, NBI will train and certify police officers on Anti Money Laundering and Combating the Financing of Terrorism (AML/CFT). The police officers will be given the same course offered to industry experts. Additionally, the officers will be trained in various critical verticals of the banking and finance so they are well equipped to carry the investigation duty.

"In its role as Apex banking academy NBI’s mission is to enhance capacity of all the stake holders that primarily includes the financial industry and also regulators, policy makers and law enforcement agencies amongst others. due to increase in overall financial transactions the crime rate is also increasing including that of off shore financial activity hence AML/CFT training would help law enforcement agency to be more effective," said Sanjib Subba,  CEO of NBI. 

Similarly, Nawaraj Silwal, Deputy Inspector General of CIB said that the MoU will pave the way for investigation officers to acquire tools and techniques to combat financial crime.