Assets of Late King Birendra
Home Minister Krishna Prasad Sitaula presented the report on the assets of late King Birendra and his spouse to the State Affairs Committee (SAC). According to the report, foreign bank accounts in the name of the late king's family held approximately $275,000. They also had cash accounts in the Standard Chartered Bank and Nabil Bank in Nepal but Gyanendra transferred much of that money out in 2003.
For decades, Nepalis have heard of the huge wealth held by the royal family in the form of jewels and cash in foreign banks, and several palaces. After the palace massacre in 2001, the crown passed on to his brother Gyanendra, and he took over the control of the royal wealth. Legislators taking a look at the report were sure that the assets of the late king and his family shown in the report were unrealistic.
The Government of Nepal had appointed a committee to assess the royal wealth after the Interim Legislator decided to nationalize the palaces and property inherited by Gyanendra from his brother. The assets were to put in a trust for public welfare.