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Anti-money Laundering Hinders Foreign Investment
By KTM Metro Reporter
September 14, 2010: President of Nepal Chamber of Commerce (NCC) has said that Anti-Money Laundering Act has terrorized the businesspersons and industrialists, and it will shy away the foreign investors from Nepal in the meeting with the Governor of the central bank of Nepal. However, the governor has said that the central bank has prepared the Act in consultation with the private sector people and so the bank will go ahead with the enforcement of the Act.
Some of the businesspersons and industrialists probably half of them working in Nepal have been used to launder the money illegally earned in the name of doing business and investing in Nepal. Naturally, the Act will scare away those unscrupulous businesspersons and industrialists.
