The government has initiated concrete steps to remove Nepal from the Financial Action Task Force’s (FATF) grey list, starting with the finalization of a time-bound action plan on Tuesday. The Anti-Money Laundering Steering Committee has committed to implementing the plan without delay.
According to Finance Minister Bishnu Paudel’s secretariat, the committee will enforce the action plan within a set timeframe. Minister Paudel emphasized the importance of not only executing the plan efficiently but also developing long-term strategies to prevent Nepal from re-entering the grey list in the future.
Law Minister Ajay Kumar Chaurasiya stated that Nepal already has sufficient legal provisions in place to exit the list and called on all concerned agencies to act with strong determination and commitment.
Attorney General Ramesh Badal underscored the role of institutional good governance as a key requirement for removal from the grey list. Chief Secretary Ek Narayan Aryal echoed the urgency, stressing the need for strong inter-agency coordination and prompt implementation of the plan.
Acting Governor of Nepal Rastra Bank, Neelam Dhungana Timsina, warned against last-minute efforts and emphasized the importance of beginning implementation from day one.
During the meeting, participants highlighted priority areas such as risk assessment, inter-agency coordination, regulation and supervision, investigation and prosecution, and effective management of criminal assets. They also stressed the importance of enforcing existing laws more robustly.
Nepal was placed on the FATF grey list on February 21.
