Finance Minister Rameshwor Prasad Khanal has said that it is the shared responsibility of all stakeholders and authorities to work toward removing Nepal from the Financial Action Task Force (FATF) Gray List related to money laundering issues.

Speaking at a program organized to mark the National Anti- Money Laundering Day - 2082 BS , themed “Money Laundering Prevention: Transparency and Fiscal Discipline,” the minister stressed the need to create a solid foundation for Nepal’s removal from the Gray List within a year by completing all required reform measures.

He said that the economic reform initiatives undertaken by the government are not driven by pressure or compulsion from the international community. Rather, the efforts aim to build corruption-free institutions, promote transparency and good governance, and strengthen the national economy.

According to the minister, initiatives to prevent money laundering do not impose additional economic burdens or unnecessary costs on the country. 

He argued that the lower-than-expected inflow of foreign investment is due to weak confidence in Nepal’s financial system, underscoring the need to create an investment-friendly environment through reforms.

Expressing hope that the reform efforts would be completed by the end of 2026, the minister also called for greater effectiveness in investigation, prosecution, and action in money laundering cases. 

He stressed that cases should be prepared with strong evidence and provisions for the prompt seizure of property.

The minister also raised concerns about transparency issues not only in the financial market but also in the capital market. 

He said that a provision mandating the use of the banking system for corporate transactions exceeding Rs 500,000 thereby putting a ceiling on the cash transactions has been in effect since January 15.

However, he clarified that despite concerns raised by the private sector, the ceiling on cash transactions would not be increased.