Anti-money laundering (Third Amendment) Bill 2083 BS approved

Kathmandu: The second meeting of the National Assembly today unanimously approved the consideration of the ‘Anti-Money Laundering (Third Amendment) Bill 2083’.

The bill was approved after a theoretical discussion on the bill, which was brought to replace the ordinance, and was submitted for a decision. MPs who wish to propose amendments to the bill have been urged to submit them to the Bills Branch of the Federal Parliament.

Finance Minister Dr. Swarnim Wagle had presented a proposal to consider the bill. Responding to questions raised during the discussion, Minister Dr. Wagle clarified that the legal amendment was made to address the challenge of Nepal being listed in such an international ‘black spot’, as the international community is closely studying Nepal’s money laundering issues. He informed that the concerned bodies are also working to remove Nepal’s aviation sector from the ‘black list’ kept by the European Commission and said that the government is ready to effectively implement existing laws and policies. He made it clear that no one will be investigated selectively with political motives.

MPs Bishwaraj Pokharel, Vidushi Rana, Parasmani Gelal, Aren Rai, Chandramohan Yadav, and Geeta Gurung participated in the discussion.

The MPs stressed the need for strict legal measures to control illegal wealth acquisition, impartial investigations without discrimination against those who have amassed unlawful wealth, and initiatives to bring Nepal out of the ‘grey list’ of money laundering.