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Deal Against Money Laundering
By KTM Metro Reporter
March 29, 2011: Director-general of Investigation Bureau (IB) under Ministry of Justice of Taiwan Chang Chi-ping and head of the Financial Information Unit of Nepal Rastra Bank: Central Bank of Nepal Dharma Raj Sapkota have signed off a memorandum of understanding (MOU) between the two countries in Taipei, Taiwan on March 28, 2011 on cooperation in the fight against money laundering, terrorism funding and other financial crimes according to the news posted on the Focustaiwan.tw.
Following the MOU, the two countries will exchange information on suspected money laundering and other cross-border financial criminal activities including terrorism financing, Chang said at the signing ceremony at the IB headquarters.
Nepal has been the 17th country to sign such an agreement with Taiwan, after the United States, South Korea, the Philippines, Israel and 12 other countries, Chang said, adding that Taiwan hopes to enter into similar arrangements with as many countries as possible.
Taiwan and Nepal are both members of the Asia Pacific Group (APG) on Money Laundering. The two countries began discussions last year on the MOU during an annual APG conference in Singapore.
