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Pass A Bill On Anti-money Laundering
By KTM Metro Reporter
January 23, 2013: US Ambassador to Nepal Peter W. Bodde called on Finance Minister Barsha Man Pun at his office in Singha Durbar on Tuesday morning to express concerns over the Nepal's failure to pass a bill on the fight against money laundering, according to the nepalnews.com
Ambassador Bodde has said that the international Financial Action Task Force might blacklist Nepal if it fails to pass the bill ahead of the FATF meeting scheduled for the next month.
The minister in turn told Ambassador Bodde that the government would soon forge a political consensus on this serious matter. However, asking the government for building a consensus on it, the President has put on hold the bill on the fight against money laundering recommended by the government to issue a presidential ordinance.
If FATF blacklists Nepal then the Nepalese business people face the problem of doing the business in the international market as foreign banks and business institutions will be reluctant to have financial transactions with Nepal, as it would be illegal for them to do so.
