Kathmandu. Finance Minister Dr Swarnim Wagle has said that the government was committed to removing the country from the ‘grey list’ of the Financial Action Task Force (FATA).

Presenting a proposal seeking consideration on the Money Laundering Prevention (third amendment) Bill, 2083 BS in a meeting of the National Assembly on Saturday, he said full support of all was needed to pull the country off the list of law. He added that all the issues that Nepal needs to address would be effectively forwarded with a timetable.

Finance Minister Dr Khatiwada said that there is a possibility of Nepal being blacklisted if the recommendations given by FATA are not implemented. Wagle insisted.

He said that they were effortful to fully implement the suggestions given by FATA after the formation of the incumbent government.

Nepal has been on the ‘grey list’ since February 2081. The meeting unanimously approved the proposal presented by Finance Minister Dr Swarnim Wagle.

Earlier in the meeting, lawmakers stressed on the need of further enriching various provisions of the bill with more clear explanation on the issue of money laundering. They said that the bill should be sent to the concerned committee and consensus should be forged by holding discussions.