Finance Minister insists on combined efforts against

Kathmandu, July 24: Finance Minister Dr Yuba Raj Khatiwada has spoken of the need of paying attention to the implementation of standards against money laundering. As he said, prevention of money laundering is necessary to achieve sustainable development and maintain financial discipline.

Inaugurating the 21st meeting of Asia Pacific Group on Money Laundering (APG) here today, the Finance Minister insisted on the need of fighting against laundering of asset/money generated illegally to overcome financial crimes and terrorist financing. The meeting that kicked off here Saturday will run until coming Friday. A total of 500 people including representatives from the APG member countries, World Bank and from observer countries are taking part in the meeting. The meeting is primarily focused on the discussions about possible collective efforts to control money laundering and illegal financing and thus finding a way towards economic progress.

Of late, Nepal is learnt to have been working seriously for the prevention of money laundering by revising the act to this regard. On the occasion, the Finance Minister said the Nepal Government was attentively working to prevent legitimization of the assets gained illegally. He was of the view of paying heed to avoiding the possibility of financial crimes through a digitalized channel and mitigating possible risk from the exchange of information.(RSS)