KATHMANDU: Finance Minister Dr. Swarnim Wagle has said the government is fully committed to implementing necessary reforms to ensure Nepal’s removal from the Financial Action Task Force (FATF) “grey list”.
He made the remarks during a discussion held at the Ministry of Finance on Tuesday regarding the action plan under the International Cooperation Review Group (ICRG) of 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 strengthen institutional capacity to address concerns raised by international monitoring bodies.
He said the current administration has placed strong emphasis on good governance and accelerating development efforts, adding that citizens have already begun to feel the impact of recent policy reforms.
The minister also informed the delegation that relevant agencies are working on both short-term and long-term measures required for Nepal’s removal from the grey list, with regular monitoring and evaluation mechanisms in place.
He further noted that Nepal has made notable progress in several indicators related to anti-money laundering compliance compared to earlier review periods.
APG Deputy Executive Secretary David Shannon said during the discussion that Nepal still has considerable 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 concerned bodies were present at the meeting.
Nepal was placed on the FATF grey list in early 2025 for a two-year period. Since then, the country has been implementing a 15-point reform plan aimed at strengthening its anti-money laundering framework and improving financial transparency.
Comment