KATHMANDU:- Minister for Finance, Dr. Swarnim Wagle, said the government of Nepal is committed to taking all necessary measures to ensure the country’s removal from the Financial Action Task Force (FATF) ‘grey list’.
Minister Wagle expressed this commitment during a discussion held at his office today on the action plan related to the International Cooperation Review Group (ICRG) under the Asia/Pacific Group on Money Laundering (APG).
During the meeting with an APG delegation, Minister Wagle reiterated that the government would mobilize all available resources and institutional capacity to address concerns raised by international monitoring bodies.
He asserted that the incumbent government has placed strong emphasis on good governance and accelerating development efforts, stating that citizens have already begun to experience the impact of recent reforms introduced after the formation of the government.
The Minister also informed the delegation that concerned government agencies are pursuing both immediate and long-term measures required for Nepal’s removal from the grey list, with regular monitoring and evaluation processes in place.
He further noted that Nepal has shown significant improvements in several indicators related to anti-money laundering compliance compared to previous review periods.
APG Deputy Executive Secretary David Shannon, speaking at the discussion, said that Nepal still has significant work to do before it can be removed from the grey list.
Officials from the Ministry of Finance, the Office of the Prime Minister and Council of Ministers, Nepal Rastra Bank, and other relevant agencies were also present in the discussion.
Nepal was placed on the FATF grey list in early 2025 for two years. Since then, the country has been working on a 15-point reform plan designed to strengthen its anti-money laundering system and improve financial transparency.(RSS)